Planning a big home renovation? Sure, you want to enjoy that new family room or home office. But before taking on a costly remodeling project, you need to consider how the improvements you are planning could hurt your home’s resale value.
It’s true, certain home improvements will actually make it more difficult to sell your home. And when it’s more challenging to move your home, you’ll most likely have to reduce your asking price.
Of course, if you don’t plan on selling for years, you might not care about resale value. But if you don’t see yourself living in your home for 10 or 15 more years, think carefully before adding that in-ground swimming pool or creating the ultimate home office.
What are some of the worst improvements owners can make?
Let’s start with swimming pools. You might think that an in-ground swimming pool is a great addition to your home —and you might get plenty of enjoyment out of it. But many buyers won’t purchase a home witha swimming pool.
If you must have a pool, it makes more sense to purchase a traditional above-ground model. Then you can remove it when it’s time to sell.
2. A Permanent Home Office
If you work from home, having a permanent home office will make life easier. But this space could hurt your sales price when it’s time to move.
Most buyers would prefer an extra bedroom instead of a home office. Yes, more people are working at least part of the time from home. But many more still do not. A home office fitted with permanent shelving units and built-in cabinets might turn off buyers looking instead for an extra bedroom for their children.
3. Turning That Garage Into a Bedroom
You might want more space for your growing family, and turning a garage into an extra bedroom might seem like an affordable way to do it, especially if you have a large driveway for your cars. But resist the temptation.
4. Too Much Landscaping
A garden overflowing with flowers, bushes, ponds, and fountains might be a relaxing oasis, but buyers might instead see long spring and summer afternoons spent weeding and trimming.
5. Too Much Color
Those bright walls add excitement to your bedroom, while the golden yellow walls of your kitchen are soothing. But here’s the unfortunate news: Most buyers would prefer your home’s walls to be more neutral. That blander color scheme makes it easier for buyers to picture their own family, with their own tastes, in your home.
Dan Rafter / Wise Bread