Whether or not you’ve been looking into selling your house for a while, there’s a good chance you’ve heard the buzzword ‘renovation’ and considered how it can positively impact the value of your home. From upgrading your kitchen to painting, there are plenty of renovations that will do wonders in terms of your property’s price on the market, but there are a few that can actually have the opposite effect so you’ll want to be leery of the following fix-ups.
Cool Colored Tile
If, at one point, you installed a bunch of brightly colored tile into your living room or kitchen to add a bit more life to your home, it’s possible this is the type of renovation you may come to regret upon resale. Often times, when it comes to purchasing a home, buyers will be looking for something they won’t have to renovate right off the bat, so a flashy feature can have a marked effect on the selling potential of your house.
An Unflattering Paint Color
You’ve probably heard all about the power that painting has to revamp the look of your home, but the wrong tint of paint can actually have the completely opposite effect. Instead of opting for bright or risky colors, ensure you stick to neutrals that will coordinate in a flattering way with your furniture and flooring. A bright color can certainly make for a memorable impression, but it can also obscure many other good features if it happens to be too much.
Splitting a Bedroom to Make Another Bedroom
It can often be considered a great benefit to have a house with multiple bedrooms. However, if you’ve condensed the size of one room to create an extra bedroom that’s little more than miniature, it may not have the impact on your price-point you envisioned. Instead of focusing on the house that you don’t have, play up the positive features of your home and the ideal buyer will come to you – and hopefully with the offer you’re looking for.
The Conformity Factor
Regardless of what renovations you are choosing to complete, it is good practice to remember the rule of conformity. Conformity in a nutshell, has to do with what the expectation of interior and exterior home finishes are in your neighborhood. If your area is predominantly laminate counter tops, carpets and vinyl siding, it is likely not going to be a good idea to renovate your house with granite counter tops, marble floors and wood siding. While these renovations may look great, you will likely not get your investment back when you sell your home – although, it may help it sell quicker. It isn’t a great investment trade off.
Renovating your home is a good idea if you’re planning on putting it on the market, but adding on another bedroom or choosing a garish color of paint might not be worth the cost you’re going to pay. If you are planning on putting your home on the market in the near future, you may want to use RealAgents.ca’s free service to make sure you find the best local real estate professionals for you and your family.