So you’re planning on selling your home, and you’ve probably already read our blog on what renovations will increase the value of your home. But what renovations should you avoid? Not every renovation is equal, and it’s important to know what won’t be a good investment. Here are three renos that will give you the least bang for your buck:
Sometimes people take the phrase “curb-appeal” to a whole new level. They fully landscape and instal a hot tub, garden, and one of those costly stone fountains. That cute rock path leading to the veranda may be a nice touch, but a potential homebuyer is going to see the words “high-maintenance” stamped all over your yard. Keeping your green space maintained is key to drawing in buyers, but it will not increase the value of your home. Because of this, don’t waste your money on expensive and unnecessary outdoor projects. Mow your lawn and trim the shrubs, and you will be just fine.
Make sure that your renovations offer some semblance of continuity. Be wary of focusing hard on one room and making it the poster child for modernity. This will only be effective if it fits with the rest of the home. Upgrades need to be consistent throughout if they are going to add any value. For example, you may need to re-evaluate if your TV room contains tech from the future and your bedroom contains shag from the 60s. Even though the TV room is remodelled, your bedroom may be seen as a work project. Instead of upgrading one room and neglecting the others, invest a little bit in each room so that walking from one to the next doesn’t feel like stepping into a different house.
Your potential homebuyers are going to be dazzled by what they see inside your home, not by the important elements that go on behind-the-scenes. So while it is important to have up-to-date plumbing and HVAC, these won’t necessarily reflect in your home’s market value. These should be included in regular maintenance and not as a renovation that will act as a selling point. Someone looking at your home will expect that these systems are working, so they don’t intend to pay more for them. Keep up to date on your regular maintenance, and ensure that everything is functional, but don’t go throwing your money at fancy new systems.
The main thing to keep in mind is that you want to create a space where a potential homebuyer can imagine living. Offering a blank slate that they can easily shift their lives into will be much more successful than specific designs that cater to your unique taste. With this mindset, it will be much clearer which renovations and changes you need to make before putting your home up for sale.