Not all that glitters will give you a good return on investment. Say you pour a few thousand bucks into lavish lighting fixtures. You might think your sparkling ceiling-mounted lights will dazzle buyers when you’re trying to sell your home.
In reality, many glitzy home improvement projects like this will be a turnoff for home buyers. Your expensive renovation project could even be ripped out of the house once the purchaser signs the final contract. Not only did your project put off buyers, but it was all for nothing.
If you aren’t careful about home renovations, you could lose a ton of cash. Here are some renovations we think you should carefully consider before going ahead.
- Wallpaper: It’s an acquired taste. Plus, it takes a long time to remove. Older wallpaper leaves sticky residue in its wake. You might even find wall damage underneath the paper! It’s better to paint your walls a single colour.
- Constructing a high-end master suite. While it makes your home more impressive, it also comes with a ROI average of 47.7%. That means you probably won’t recoup half of what you spent.
- Major kitchen remodels: You install custom cabinets, new lighting, stone countertops and expensive appliances. This is something you do for your own enjoyment rather than the desire to make your money back.
- Combining bedrooms: Sure, maybe this will work for your needs, but down the line, it might throw off buyers. People want more rooms for their own uses. Turning a 3-bedroom home into one with only two could lower your home’s value. Usually, the more rooms the better.
- Tile patterns: If you have unique, personalized tiling, that can put buyers off. Instead of admiring the pattern, they might be thinking about how much time and money a replacement project would take. It’s okay to have an upgraded tile floor, but don’t go for something out there like black-and-white tiles.
- Wall-to-wall carpeting: Just like with tiles, buyers will see this feature as a potential cost. They’ll wonder how much it will cost to remove. Just think about it: Who wants a carpet in the kitchen? Wall-to-wall carpeting doesn’t offer much flexibility when it comes to flooring, so avoid this excess.
- Bold paint colours: Maybe you really love dark red walls or bright purple to set the mood. But this might put off buyers. If there’s too much of “you” in the house, buyers might not be able to see themselves living here. Use something simple and neutral instead. Here are some of the best paint colours for selling your home.
- Mismatched architecture styles: Say you have a home with a main exterior that matches Spanish eclectic architecture. But the windows are styled like Tudor houses, or the interior is Colonial. Incongruent details can weird out buyers and throw the look of the house off.
- Sunken den: Sunken living rooms were all the rage in the 1960s. Over time, they fell out of fashion, but if you love that groovy look, you might consider upgrading your home to add more dimension to your living space. Sure, it can make your home feel more spacious. Sure, it’s a cosy place for intimate entertainment. But it’s not easy for people with mobility issues — and it comes with a big risk of falling and injuries.
- Fancy textures on the walls or ceilings: You might like the way this looks. But like many other features on this list, it’s not everyone’s cup of tea. Many buyers will sigh and think to themselves, “It’s going to cost a pretty penny to get rid of this.”
If you are thinking about renovating, then give the team a call to discuss your thoughts, our experts will advise you on your best options moving forward and give you their honest and professional opinion on what may or may not work for you home.