What Brings Home Value Down?
We recently wrote about ways to increase your property value, but it's also a good idea to be aware of things that can bring down the value of your home. As a homeowner, the way you remodel and maintain your home can dramatically impact your home's value. Knowing which problems could reduce your home's value and what you can do to alleviate them will help to protect your investment. Here are five things to keep in mind if you want to maintain, and possibly even increase, the value of your home.
Lack of Curb Appeal
First impressions matter and good curb appeal will make your home look inviting to buyers from the get-go. Without good curb appeal, your home is likely to get lower offers and/or fewer offers, depending on the housing market in your area. Common problems that detract from your home's curb appeal include deteriorating paint on the exterior, a poorly maintained yard, and a deteriorated fence around the perimeter of the yard.
Too Much Personalization
Are your home's walls painted in bold, bright colors like orange, purple or red? Are your walls covered in unusual wallpaper that is unique to your taste? These types of customizations could be deterrents for potential buyers. While unusual colors and patterns are an expression of your unique personality, they might not appeal to a potential homebuyer who has different tastes.
You might want to change out wallpaper, paint, flooring and other features marked by colors, textures and patterns that could be considered too extreme.
Is your home's kitchen outdated? Older fixtures and plumbing, worn-out cabinets and poor layout can all be turnoffs. Homebuyers typically look for kitchens that are not only functional and attractive, but also good for entertaining. Because people tend to spend a lot of time in the kitchen, and because it is often the focal point of the home when entertaining guests, it is important that this room be functional and aesthetically pleasing.
Just like with the kitchen, outdated bathrooms can be a problem if you're trying to sell your house. In fact, an updated bathroom could even increase the return on your investment.
Not Enough Natural Light
Natural light makes your home look more spacious, cleaner and more organized. If your home doesn't get enough natural light, there are changes that can be made to improve the lighting. At Copper Sky Renovations, we present homeowners with a variety of solutions that can help with this, including new window installation and landscaping configurations that allow more natural light to filter into the home. When the time comes to sell your home, remember that it will look larger, cleaner and more cheerful inside with a lot of natural light.
How to Make Your Home Desirable Now and Later
It is possible to achieve a balance between complete personalization and a generic, boring design aesthetic. Unless you're planning to live in your home forever, achieving that balance is important for maintaining your home's value.
If you want to create a highly custom room, such as a gym or sauna, you should keep in mind that this could ultimately narrow your pool of potential buyers down the road. However, if return on investment isn't your top priority, then these types of specialty projects can be exciting and dramatically improve your day-to-day life. We can talk you through the cost/benefit of these decisions during the planning stage.
Contact Copper Sky Renovations
Need help increasing your property value? Find out more about our remodeling services, and view our online portfolio to see if we're a good fit. To talk about how we can help with your upcoming renovation, contact us.