Personal taste and individual styling choices are a big part of what makes a property feel like home. Imbuing a space with your family’s unique flair and personality can be one of the greatest joys of home ownership, and making certain investments and renovations to the property can make sense and are often necessary. Whether you are considering selling your home in one year or 10, knowing what to avoid can also have a profound impact on your home’s selling price and attractiveness to future buyers.
WHAT A HOMEBUYER WANTS
According to the National Association of Realtors, which publishes industry research and statistics and an annual Profile of Homebuyers and Sellers, buyers tend to be very specific in their requirements when looking for a home. Making changes like demolishing walls or eliminating rooms and bathrooms to create a home office might make sense for you, but they can be deal breakers when the time comes to find a buyer.
The 2016 Profile of Homebuyers and Sellers found that previously owned homes accounted for as much as 86 percent of all purchases. Buyers of newly constructed homes cited the desire to avoid renovations and potential plumbing and electricity issues as the main reasons for not buying a previously owned home.
5 COMMON HOME RENOVATION MISTAKES TO AVOID
According to MarketWatch, there are a few home renovations that tend to lower a home’s resale value and turn off potential buyers.
1. Eliminating Closets and Bedrooms
Repurposing a bathroom or closet, or combining bedrooms to make a grand master bedroom suite or a home spa once the kids go off to college might seem like a great idea at the time. However, the number of bathrooms and bedrooms in a home is usually non-negotiable for potential buyers. If your once-three-bedroom home is now a two-bedroom, it will eliminate an entire category of potential buyers before the home even hits the market.
2. Following Trends That Become Dated Over Time
The internet and Pinterest have made it possible for anyone to become their own home decorator and interior designer. But the hottest home decorating trends of 2016 can (and will) go out of style just as quickly and might be a potential turn-off to prospective buyers. When making upgrades, stick to classics that won’t become overly dated with time or clash with a future buyer’s individual tastes.
Painting walls and art are good decorative choices that can be changed and removed with minimal effort and additional costs.
3. Elaborate Landscaping
Like decorations inside the home, landscaping is a great way to add character and personality to a home. However, one homeowner’s beloved replica of the Gardens of Versailles can be a future buyer’s raging eyesore. Even if a buyer loves your home, overwhelming or intricate landscaping (and the subsequent maintenance) may cause them to pass.
4. Wallpaper (Yes, Really)
Although wallpaper can be removed and replaced, it can be a massive undertaking, especially when it involves large surface areas. When it comes to things like accents and personal flourishes, less is usually more.
5. Converting the Garage
Like the number of bedrooms, bathrooms and closets, access to a working garage is a solid requirement for many buyers. If there is one home renovation to avoid, this is it.
FIND A REAL ESTATE AGENT IN THE HOUSTON METROPOLITAN AREA
When you are looking to buy a home in Houston, working with a qualified real estate professional is the key to finding the best value and return on your investment. For more information, contact Amy and Michael Ifland at Cityscape Brokers by calling 281-760-7299, or submit a contact form to schedule a consultation today.