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5 Common Ways to Over-Improve Your Home
If you're getting ready to sell, you may have a long list of potential improvements to make before listing. Since real estate prices are based on location, look around at your neighboring homes before you dig into renovations. If you improve to the level of (or beyond) the nicest home on the block, you will be less likely to get a return on your investment. While added bathrooms are typically a safe investment, there are many ways you could be over-improving your home before you list it.
Yard monopoly. Adding a deck or patio could seem smart, but if it monopolizes the majority of your yard, you may be over-improving. Many families want yards for their kids, pets or gardens, and may view that brand new slate patio as a downfall, not the boon you thought it was.
Square footage. It may seem smart to convert that garage into added living space or put on an addition, but if your home ends up being the largest on the block, you will likely have over-improved, and your king-sized spot may only be worth the same price as smaller homes in the area.
Pool or water features. If you already have a pool or spa, keep it maintained, but don't add a swimming pool or water feature in preparation of selling. Features like this are costly to maintain, and could detract rather than add value in the eyes of a buyer.
Customizing. When prepping to sell, aim for neutrality over personality. Painting the kids' room their favorite colors or adding teal cabinets to your kitchen or bathroom may be fun for you, but could be an eyesore to a potential buyer.
Unique features. Thinking of adding a sauna, or spa, or home screening room? Don't. What may seem like a dream to you could seem like an unnecessary addition or complication from a buyer's perspective.
As a Member of the Top 5 in Real Estate Network®, I, along with my team, have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact our team any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.
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