Education and news for smart DIY landlords!
Home upgrades are a great way of attracting potential buyers on listing sites. They can also increase your home’s selling value in the future. But sometimes they’re the reason your home receives offers below your asking price. And in worse cases, they can make your home sit in the market for too long.
The thought alone can be an absolute nightmare, especially if you’ve already spent money to get these upgrades done. In this article, we’ll discuss which home improvements aren’t desirable for the majority of buyers in real estate markets so you can avoid them.
There are three explanations that make wallpapers bad. One, they’re fake. Two, the patterns won’t always fit the taste of buyers. Three, they’re hard to remove. A good rule of thumb is to always paint your walls with neutral colors.
Unless your home is a castle or located in Beverly Hills, lavish lighting such as chandeliers do not fetch top dollar when it comes to selling. Real estate developers will always say, “Stick to something simple, modern, and efficient.”
To be honest, backyard pools are a great addition to your home. We have one and I love it. But the bitter truth is that not all of us have the time, money, and energy to spend on maintaining it. They cost too much to build but only add a little value to your home’s selling price.
The latest kitchen appliances are truly good to look at. Some even have additional features that make your living easier. But they’re just that. The problem with them is that they use too much energy and space.
No home buyer in their right mind would sacrifice a chunk of their monthly income just to feel they’re living in the Altered Carbon universe. Even Gordon Ramsay would consider the thought absurd.
Okay, this is a home upgrade that most buyers will surely hate because hardwood is still king. If you do want your floor to have carpet because you hate your bare feet to feel cold in the morning, put them only in specialized areas. And make sure they’re removable.
Recording studios, gaming rooms, vinyl collections, you name it. Not all of us have the same interest or hobby in life. If you’re planning to sell your home in the future but don’t want to ditch your niche space today, you can still set it up with a design that’s flexible for other purposes. For example, build an art studio that can also be used as a home office.
Minimalism is a trend nowadays even in the world of fashion. Unless you’re thinking of selling your home to Courtney Ryan, Antonio Centeno, or an avid fashionista, then a walk-in closet is basically worthless. Why waste such valuable space if you can just use a cabinet?
Homes are sold with values depending on the comparables. If the comparables in your property’s area are single-story buildings, your two-story building will likely be priced close to them. Yes. It will not matter how many times you argue the costs.
Please note that upgrades are subjective. They do add value depending on where the property is located and who’s interested in buying it. If you want to do these upgrades, make sure that you have no intention of selling your home in the foreseeable future.
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