Owning a home than getting houses for rent can be a fun experience for everyone. Imagine, you can do just about anything with it! However, you should keep in mind that any improvement project you will do to your home would have an effect on its resale value. This is why you must be careful in choosing what projects to go for if you wish to maintain a great home resale value.
It is true that there are home improvement projects that can make your investment worthwhile. However, there are also some that do not have any effect on the value of the home. In addition to that, there are also some projects that totally kill the value of your home.
Here are some simple mistakes that home owners must avoid doing if they want to maintain or boost the worth of their home:
Over improving a certain area of your home
Yes, there is such a thing called over improving. The tendency of most home owners is that they invest too much on a single part of their home. This is common for people living in a nice subdivision. How do you know when the improvements are too much already? Well, this depends on the place you are living in. When you are living in a high end subdivision, spending thousands of dollars in improving the look of your yard or living room is understandable. However, this will not be the same when you live in a crowded neighborhood.
Again, this is a very common mistake that home owners make which hurt not only the look but also the value of your home. You would see a home wherein the kitchen has been improved. Thousands of dollars were spent on replacing the backsplash, countertop and many other parts of the kitchen. However, you will notice that most parts of the home remain untouched and unimproved. According to real estate experts, this simple mistake can lower your home’s value.
Turning the porch into a new room
As your family gets bigger, you will surely need more rooms and bigger living space. Because of this, a lot of people see their porch as an opportunity for a new living space. Most people (who would be interested in buying your home) would like to interact with their neighbors and a closed porch would prevent them from doing so.
Messing the floor plan
Most home owners, in the hopes of adding footage to their living space, tend to overlook their original floor plan. As a result, the floor plan will be messed up. Oftentimes, you will see a new bedroom being placed in the area where the utility rooms are located. This may be a great investment however its location will not bring you the return of investment that you are aiming for.
If you wish to boost the resale value of your home, make sure that you avoid these mistakes when carrying out home improvement projects.