“Projects that take a home significantly beyond community norms are often not worth the cost when the owner sells the home,” says Scott Robinson, president of the Appraisal Institute. “If the improvements don’t match what’s standard in a community, they’ll be considered excessive.” Lifestyle website CheatSheet.com highlights a few renovating mistakes that could inadvertently lower a home’s resale value.
3 Renovating Blunders That Harm Resale Values
Letting minor damage go unfixed. To increase protection of your investment, touch up chipped paint, repair leaky faucets, and eliminate carpet stains. “Your home has to look better on the day of the open house than it’s ever looked before,” says Steve Clark, a real estate professional in Los Angeles. “If the back door is covered in scratch marks from the dog, you have to fix that.”
Failing to get rid of trees that pose safety hazards. Though trees can certainly be a selling point, they should be well-maintained and planted in the right spot so that they can increase the value of a home. Trees planted too close to a property could pose a fire hazard, as well as the tree’s root systems could damage the home’s foundation. A tree planted in the right spot could not just be good looking but will also potentially lower energy bills.
Garage conversions. 25 percent of Americans say their garage is just too cluttered to put their car inside, as outlined by a survey by Gladiator GarageWorks. So some homeowners may decide to convert the garage into a bedroom or den-but that may be a big mistake at resale. Even though it may earn extra square footage, these spaces are often times poorly insulated. Also, buyers may like the covered parking space instead.
Need some assistance getting your home ready to sell? Nick & Cindy Davis with RE/MAX Premier Group are here to assist you. We are always a just a click here away or call to 813-300-7116
