THERE is a good chance you’ve heard the buzzword ‘renovation’ and considered how it can raise the value of your home.
From upgrading your kitchen to painting, there are plenty of renovations that will do wonders in terms of your property’s price on the market, but there are a few that can actually have the opposite effect. Bear this in mind if you have an eye on selling your home on in the near future.
If, at one point, you fitted brightly colored tiles into your living room or kitchen to add a bit more life to your home, it’s possible this is the type of renovation you may come to regret upon resale.
General advice is to keep colour schemes neutral as buyers are often looking for something they won’t have to renovate straight away. Of course, you may strike lucky and find a purchaser who loves bright and vibrant colours just like you, but don’t count on it.
The same goes for painting the apartment or house out. While a fresh coat of paint can revamp the look of your home, the wrong tint of paint can actually have the completely opposite effect. Instead of opting for bright or risky colours, ensure you stick to neutrals that will coordinate in a flattering way with your furniture and flooring. Of course, this is a mistake that is fairly simple to rectify with another coat of a more neutral shade,
It can often be considered a great benefit to have a house with multiple bedrooms. However, if you’ve condensed the size of one room to create an extra bedroom that’s little more than miniature, it may not have the impact on your price-point you envisioned. Instead of focusing on the house that you don’t have, play up the positive features of your home and the ideal buyer will come to you – and hopefully with the offer you’re looking for.
Renovating your home is a good idea if you’re planning on putting it on the market, but adding on another bedroom may not be worth the cost you will have to pay.
None of the above matters if you are planning on staying in your property for many years to come, so do what you feel is best to make it your home. But when it comes to selling, be prepared to make some changes to give yourself the greatest chance of success.