3 Remodeling Mistakes That Hurt Resale Values

Dated: 08/28/2017

Views: 26

 

“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 renovation mistakes that could inadvertently lower a home’s resale value.

  1. Letting minor damage go unfixed. To better protect your investment, touch up chipped paint, repair leaky faucets, and remove 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.”

  2. Failing to remove trees that pose safety hazards. Though trees can be a selling point, they need to be well-maintained and planted in the right spot in order to boost the value of a home. Trees planted too close to a house could pose a fire hazard, or the tree’s root systems could damage the home’s foundation. A tree planted in the right spot could not only be aesthetically pleasing but also potentially lower energy bills.

  3. Garage conversions. A quarter of Americans say their garage is too cluttered to fit their car inside, according to a survey by Gladiator GarageWorks. So some homeowners may decide to convert the garage into a bedroom or den—but that could be a big mistake at resale. While it may earn extra square footage, these spaces tend to be poorly insulated. Also, buyers may prefer the covered parking space instead.

Source: “5 Ways You Can Accidentally Lower Your Home’s Resale Value,” CheatSheet.com (Aug. 24, 2017)

Latest Blog Posts

The Five Golden Rules Of Home Staging On A Budget

Home staging can get expensive or you can try this....When you show your home’s best features by staging it effectively, you help increase your final selling price without breaking the bank. In

Read More

6 Home Maintenance Tasks You Did Not Know You Were Forgetting

Here is a good article for your current clients who own a house.... In all likelihood, your home is the biggest investment you'll make in your life. To protect that investment, turn to

Read More

7 Things In Your House That Are Dirtier Than Your Toilet

We are all quick to clean our toilets, especially for guests over and for home showings. Did you ever stop to think about places dirtier?You wouldn't dare drink out of your toilet, but surprisingly,

Read More

The 1 Reason To Sell Now Before Spring

The price of any item (including residential real estate) is determined by ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of

Read More