On the surface, it may not make sense. After all, you’re trying to enhance your home in order to increase its value when you sell. However, certain home improvements can actually deter potential buyers and end up lowering the selling price of your home.
Some homebuyers are looking for a “turn-key” property that is move-in ready. They don’t want to have to do any work on the property after they purchase it. So, if you’ve made improvements that are too specific to your taste or needs, it could turn potential buyers away.
It’s also important to consider whether or not the improvement you’re making will be popular in the future. Trends come and go, so what’s popular today may not be so popular a few years down the road. Making an improvement that is ahead of its time could make your home harder to sell in the future.
In this article, we’ll discuss Improvements That Could Lower Your Home Value. We’ll also provide a few tips on how you can avoid making these common mistakes.
Improvements That Could Lower Your Home Value
While most home improvements are made with the intention of increasing the value of your home, there are some that can actually have the opposite effect. If you’re planning on selling your home in the near future, be aware of these seven improvements that could end up lowering your home’s value:
1. A Swimming Pool
While many people see a swimming pool as a valuable addition to a home, potential buyers may view it as a liability. Not only is there the cost of upkeep, but there is also the potential for accidents. If you’re planning on including a pool in your home, be prepared to make some serious sacrifices in terms of price and interest from buyers.
2. An Out-of-the-Ordinary Paint Job
While you may love that bright pink exterior paint job, it’s unlikely that potential buyers will share your enthusiasm. When it comes to painting the outside of your home, stick to more neutral colors that will appeal to a wider range of people.
3. An Unusual Floorplan
An open floor plan may be all the rage these days, but if your home is the only one on the block with one, it could end up being a turnoff for potential buyers. Before you make any drastic changes to your home’s layout, think about how it will affect its resale value.
4. A Unique Kitchen
While a kitchen remodel is usually considered a wise investment, going too far with your design can actually make your home less desirable to buyers. If your kitchen is too specific to your personal taste, it’s likely that you’ll have a hard time finding someone who’s willing to pay top dollar for your home.
5. Excessive Personalization
While it’s important to make your home feel like your own, you don’t want to go overboard with personal touches. Potential buyers should be able to see themselves living in your home, and that can be difficult if every room is decorated with items that are specific to your taste. When it comes time to sell, consider removing any excessive personalization from your home so that it appeals to a wider range of people.
6. A Lack of Curb Appeal
No matter how beautiful your home is on the inside, it won’t matter if potential buyers don’t even want to step foot through the door. Make sure your home has enough curb appeal to attract interest from buyers, or you may find yourself stuck with a home that’s difficult to sell.
7. Poorly Chosen Improvements
While home improvements can add value to your home, poorly chosen ones can actually end up decreasing its worth. If you’re not sure which improvements will pay off, it’s best to consult with a real estate agent or another expert before making any changes.
Making the wrong improvement to your home can be a costly mistake that takes a long time to recover from. Before you start any projects, make sure you do your research so that you can avoid lowering the value of your biggest investment.