If you plan on selling your home in the future, you want to ensure that you receive a price that is a bit higher than market value. The best way to ensure this is to work on home renovations that are valuable and ensure that your home is more livable and modern compared to other homes in your neighborhood. Many homeowners make the mistake of investing too much in home renovations that do not add any significant amount of value to their home, though. Here are five types of renovations that you should avoid for resale purposes:
- A Swimming Pool: A swimming pool is a good investment if you plan on living in your home for a number of years. However, if you plan to sell in the near future, investing in this type of renovation can be a disaster. This is because many potential buyers do not want to invest in a home with a swimming pool because of the liability issues that it presents. On top of this, swimming pools are a lot of maintenance and simply not worth it if you don't live in an area that is warm, such as the desert.
- An Additional Story: If you live in a neighborhood that is full of one story homes and you decide to add a second story, it won't do much for resale. This is because potential buyers looking in a neighborhood with a majority of one story homes probably won't be interested in spending more just to live in a home with an additional story. Instead, it's best to build out if you have the land space for it.
- New Carpeting: Installing new carpet throughout your home is simply not worth it. Most buyers are going to want to change this anyway since carpeting is no longer a popular flooring type due to health issues, such as allergies and the issue of high maintenance. Instead, leave the flooring alone or consider installing hardwood flooring.
- Master Bathroom: Completely redoing the master bedroom before investing in a remodel of the guest bathroom or kitchen in the house is not worth it either. The first places people will want to see modern upgrades and remodeling is in the kitchen and the guest bathroom. On top of this, everyone will have a different idea of what they want in the master bathroom. If you invest in double sinks and an open shower, for example, someone who is single may not prefer this type of layout.
When you know what types of home renovations to avoid, you can be sure that you are investing in the right things to help with the resale value of your home significantly. For more information, contact companies like Alleva Construction, Inc.