As you get ready to sell your home, it’s tempting to fix up the place’s quirks. Some things make the property more alluring to potential buyers, right? Not always.
At Wise Property Buyers, we buy houses in Detroit, Michigan, giving us insider knowledge into a few renovations that decrease home value. Avoid the potentially wasteful projects listed below to get the most out of your property sale.
Avoid These Five Renovations That Decrease Property Value Before a Sale
A renovation or remodeling project often affects taxable value. These projects can prolong the preparation process that comes before putting your home on the market. For example, are you aware that you’ll have to hire an appraiser to reevaluate your property once you complete the project?
If you’re thinking about extensive remodeling projects, know that they aren’t conducive to quick, stress-free sales. Sometimes, remodeling can even devalue your property. Look at the examples below before budgeting or breaking ground on your renovation idea.
Overly Trendy or Customized Home Designs
Everyone wants to keep up with the latest design trends, don’t they? The problem is that trendy designs have an expiration date and may put potential buyers off.
The same applies to over-personalized renovations, like specific hobby rooms. Most soon-to-be homeowners want a space to envision their own lifestyles, not yours. Seeing a reptile room or a space dedicated to crafting pottery severs any connection they might have made to the building.
Outdated Kitchen Plans
Badly outdated kitchens are another example of potential renovations that decrease home value. That retro vibe may help you envision the past, but kitchen floor plans change for a reason.
The kitchen designs of yore don’t hold up against modern cooking demands. Forward-thinking brings better returns on kitchen renovations.
Luxury Bathrooms
Many homeowners dream of luxury bathrooms with spa-like atmospheres, but you’d be surprised how subjective this is from person to person. Somebody else might not share your idea of how a luxury bathroom should look or feel.
A few upgrades can certainly breathe new life into the place, but adding a jacuzzi tub with a highly technical lighting design might be kitsch to the eco-friendly minimalist wanting to buy your house. The key to successful property sales lies in helping a potential buyer see themselves living comfortably in the space.
DIY Remodels
You might lean toward doing the bare minimum to prepare your listing, but DIY renovations won’t make the home any more palatable to potential buyers.
Do-it-yourself jobs can also lead to a host of potential problems for you and any future homeowners. Stick to professional contractors who know their trade well.
Room Conversions
Converting rooms can be hit or miss. For example, basement conversions can be a big hit if they work as a dedicated laundry room or an extra bedroom.
However, turning it into an office or studio space might devalue your property. Buyers prefer extra bedroom space.
Ask Wise Property Buyers for an Offer in Detroit, Michigan
Don’t risk breaking the bank on renovations that decrease home value. Sell your home in Detroit, Michigan, with Wise Property Buyers. Call 313-513-8824 for a cash offer today!