When you're preparing to sell your home, there are some renovations that have a big impact on the asking price.
However, not all additions and upgrades are good uses for money. Interior design experts warn that some projects are a waste of time if you're looking to sell.
Homes and Gardens experts explain why popular renovations should be avoided if you're looking to sell.
"If you are planning to sell, it is very important to know which renovations do not add value to your home," explained the expert.
A small project to-do list can eat up your budget just as much as a big upgrade, they added.
When planning a renovation, it is important to ask yourself whether the costs and time involved are worth the return on investment.
MyJobQuote interiors expert Heather Barrigan told Homes and Gardens that an in-ground pool is a good example of a renovation to avoid. It's a great feature that people love, but it's very expensive, even though the return on investment is actually very low," Barrigan said.
Installation costs totaled her over $90,000. This is before maintenance and repair costs are considered. These are the costs that the new homeowner will have to bear if sold.
It's also quite possible that trend upgrades won't stay current for long, Barrigan warned.
Open floor plans fall into that category. The look was popular for years, but has fallen out of style again, and homeowners shouldn't change their living spaces. It takes a lot of work to take on this job because there is," she explained.
It is also "relatively expensive". The cost of removing walls and doorways adds up quickly, and the lowest price she has is $2,000.
Meanwhile, in the kitchen, foodies may want to splurge for the best appliances money can buy. Barrigan warns against it.
"Some high-end appliances cost twice as much as her average appliance, even though they have roughly the same features," she explains. Did.
Adding luxury brands or niche appliances to your home can also limit the pool of potential buyers.
It takes buyers with a passion for home cooking to understand the value of a top-of-the-line induction range.
"It's important to remember that names aren't everything," said Barrigan.
She also warned about an unexpected mistake many homeowners make: converting a room.
Converting an attic into a bedroom or studio her space will cost an average of $40,000, but will not increase the price of your home significantly.
Working on this project would actually mean losing her $7,000 on average.
Also, transforming a bedroom into a more spacious master bedroom or walk-in closet can reduce the value of the home to the buyer.
"Many people want to have a walk-in closet or extend their bedroom to store all their clothes and shoes," explains Barrigan.
"However, despite the high demand for storage, an additional bedroom can increase the value of your property by 15% compared to additional wardrobe space."
In other words, if you're not hosting guests, use the extra bedroom for storage. However, do not add permanent shelving, vanity lights, or other expensive items.
