It can be tempting to replicate some of the high-end renovations you see on home improvement shows and on social media. But if you’re not careful, you could be throwing money down your luxury, gold-trimmed toilet. The rule of thumb is to renovate according to your neighborhood and area comparables, especially if you’re planning to sell in the near future.
So, before you start turning your home from bland to glam, read on as we dive into the pitfalls of over-improving your home and offer tips to help you stay on track.
Kitchens and Baths
Kitchen and bathroom renovations generally deliver the most bang for the buck – within reason. While renovating these rooms, resist the urge to go crazy on high-end appliances and finishes. A $1,500 refrigerator looks similar $10,000 one and ultimately does the same thing – keeps your food fresh. If you are planning to sell within 5 years, do update old appliances and freshen up bathrooms but don’t splurge on top-of-the-line products and finishes unless you live in a neighborhood where that is the expectation.
Extensions and Conversions
Who couldn’t use a little more space? A room addition, attic conversion, and a third bathroom sure make a home more spacious, but they all come with a high cost that you may not recoup. Extensions are among the costliest renovations as they require creating new walls, foundation, and roofing – not to mention heating, air conditioning, and plumbing. If your home suddenly becomes the biggest on the block with a price tag to match, you may have trouble when it’s time to sell.
Let’s say your favorite color is bright blue. And that’s the color you choose for you kitchen cabinets, bedroom accent wall, and bathroom tile. It’s a lovely color, indeed, but would-be buyers may not want to see it in every room of the house, especially on areas that are not easy or inexpensive to change. Aim for timeless upgrades with a clean and simple design and neutral color palette. Use accent pieces to add color and remember that today’s popular trends can quickly look tired and dated in a couple of years.
Difficult to Repair, Replace, or Duplicate
That hand-crafted tile from Tuscany might look beautiful against those rustic, reclaimed wood kitchen cabinets with antique hardware, but how easy are they to repair, replace, or duplicate should anything get damaged? Before deciding on any product or material, don’t forget to take replacement cost into account.
Landscaping can dramatically increase a home’s curb appeal. But overcomplicated designs and features that are difficult to maintain can detract buyers and won’t do much to up your resale value. Plus, while you may be up to the task of maintaining the area around your home now, ask yourself if you’ll be able to continue doing so 2, 5, or 10 years from now.
At the end of the day, it’s your home and you can do with it what you like. But don’t expect to be able to charge more than the area comps if you choose to sell. If you’re planning on a home renovation or wondering which projects will deliver the most bang for your buck, contact the professionals at Pann Home Services & Remodeling. From complete plumbing, heating, and cooling to remodeling and handyman services, we’re ready to get to work for you.