5 Home improvements that devalue your property
Category Home Improvement
Home improvements and upgrades can increase your overall value. We understand that everyone enjoys making their home a unique space that reflects their personalities and style. The point is to create an environment that you can enjoy.
We sometimes fall into this way of thinking where additions can improve your property value. Many real estate experts suggest avoiding certain upgrades that work against you when packing up and moving.
We look at five standout additions that will lower the value of your home.
Outbuilding your neighbours
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Let's say you live in a particular community where homes tend to be a specific size. Building above and beyond the community standard means that you'll be spending more than you can recoup in your given suburb.
This is because each suburb has what is known as a ceiling price. Savvy investors or buyers will look over your home if it's built to be the most lavish and expensive property on the street. This is compounded by the fact that the current housing market remains squarely within the buyer's court.
Overuse of carpeting
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While a stylish trend during the late 70s and early 80s, built-in carpeting doesn't quite have the spark it used to. Modern homeowners won't mind if their bedrooms are carpeted; however, anything beyond these spaces will likely turn them away.
This is because carpets are quick to show signs of wear and damage, making the home seem tacky and looking more downtrodden than it is. If you're thinking of remodelling your flooring, your best bet would be hardwood which tends to increase your home's value. Alternatively, laminate and vinyl with a wood grain veneer are cheaper and have a similar effect.
Built-in aquariums
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While we've singled out aquariums here, the fact is that any leisurely addition that requires constant maintenance and only appeals to a niche market is likely to detract potential investors.
If you enjoy aquatic pets, we always recommend buying a free-standing unit, as any built-in additions can be costly unless you're looking to sell your home to an enthusiast.
Jacuzzis and Hot Tubs
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While swimming pools require much maintenance, most homeowners enjoy having them. Beyond the same level of care needed, homeowners with younger children may even consider them a safety hazard. It gets a little trickier with additional comforts like hot tubs and jacuzzis.
However, that doesn't mean that you can't have one. Take a look at more portable options which can be moved effortlessly and can potentially be taken with you to your next home.
Cheap DIY projects
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DIY Fails and "questionable" design choices make us scratch our heads in confusion. Perhaps you may have seen a few of these while scrolling through your social media posts. The fact is that unless you're an experienced builder and know what you're doing, it's best to hire a professional for any renovations.
Anything that the homeowner perceives as unprofessional or shoddy artistry will only devalue your property. You may think you're saving money by skimping on professionals, but you'll end up biting off more than you can nine times out of ten.
Choice of colours
Bright or very dark colours may suit your colour pallet, but it may make it difficult to sell your home-especially when choosing hard finishes like tiles and granite surfaces that are expensive to change.
Any sort of over-personalisation of a home is a risk. It is essential to find a balance between what works for you and what will also appeal to most potential buyers on the market. You don't want your home to decrease in value, yet at the same time, making it your own space should not be discouraged.
Whether you're looking for your dream property or lifestyle estate, contact us at Property Tree and let our professional group of Property Practitioners find the right home!
https://www.property-tree.co.za/ or contact us: https://www.property-tree.co.za/contact/
Author: Bryce Anderson