A house can be a home, and in most cases, a house is an investment. In turning your new house into a comfortable place to live, maybe you’ve considered doing some renovations and customization, but it’s important to take a few considerations before starting any DIY projects, especially if you’re thinking about selling your house down the road. It’s easy to go overboard with customization, especially if you have a fixer-upper on your hands, but keep in mind that some renovations don’t add much value to your house. We’re going to take a look at some of the worst renovations for a return on investment (ROI) in today’s blog.
Getting Rid of the Bathtub
Depending on the demographic of your neighborhood, it may be good practice to keep at least one bathtub, even if large, luxurious showers have come to replace large soaking tubs in luxury bathrooms. Walk-in showers are more accessible and are better for older homeowners whereas families with small children will likely want a bathtub.
Hobbies are a great way to enrich your life, but they won’t necessarily contribute to the value of your home. Specialized hobby spaces appeal to other hobbyists who share the same interest, but if the hobby space, for instance, a home darkroom, is in the listing description, it may turn off potential buyers from coming to view the property.
Getting Rid of Rooms
Getting rid of rooms in favor of changing the layout of the house can be a gamble when it comes to long-term value. While a large master suite may be trendy, think twice before consolidating two bedrooms. A good rule of thumb for resale is that it’s always better to have more designated bedrooms rather than fewer. This way, it doesn’t exclude buyers who are looking for a certain number of bedrooms.
When renovating, the number one mistake that sellers make is only considering their tastes and needs within the home. Avoid this by considering the benefits to the future homeowner. No matter what, keep the value of the renovations in mind. Even if you intend to own the home for some period of time, major life changes, unforeseen events, and even the economy can cause homeowners to sell their houses ahead of their anticipated time frame