Yes, you read that right, there are indeed home upgrades that can decrease the value of your home. As homeowners, one of the best feelings is knowing that you’ve improved your home since your purchase and that the upgrades and home maintenance you’ve put into the home has not only helped to protect your investment, but has also boosted the value of your home, created potential revenue should you decide to sell. Unfortunately, there are just as many upgrades that can decrease your home’s value as there are upgrades to increase it. Make sure to avoid these value decreasing upgrades.
#1 Whirlpool Tubs/Luxury Bathrooms
While you may want to feel as if you’re in the spa when in your bathroom, unfortunately by adding too much “luxury” you are actually decreasing the home’s value, or keeping it as is instead of boosting it. When it comes to bathrooms you should always shoot for simple, timeless upgrades instead of trying to customize the space or add high end upgrades as they won’t appeal to all buyers.
#2 Too Much Curb Appeal
This might go against everything you’ve been told, however there is such a thing as simply creating too much work for future buyers/homeowners. In addition to over landscaping, you also want to avoid landscaping with high-end plants and features as they are often expensive to put in, upkeep, and replace if needed, all expenses that won’t help boost your home’s value.
Related: 4 Ways to Save Money on Landscaping
Generally, sunrooms will add very little if any value to your home. While some neighborhoods may boast homes with sunrooms, the majority don’t and unless you’ve found yourself in a neighborhood where sunrooms are common, the addition won’t pay off, or even recoup the cost needed to cover the upgrade upon selling.
As trends change you may find that you want to change the style and design features within your home. Whether with a bold accent wall, hand painted tile flooring, wallpaper etc. you want to make sure not to customize too much of your home. By doing so, you may love the changes you see, however, your personal taste may not be the same of future buyers and they will simply see customizations that they then have to remove, alter or change.
If you’re currently searching for a new home, are ready to sell your home and need a qualified seller’s agent to assist you, or if you have any further questions regarding New York Real Estate, please feel free to contact our office at any time.