5 Common Homeowner Mistakes

Homeowners will often make improvements believing they are adding value to their home, but in the real world of real estate sales, they are not adding value, and they may even be decreasing the value of their home. Of course, if an investment is made for the sole purpose of providing the homeowners with enjoyment, then recovering these investments may not be important. The following 5 common homeowner mistakes are examples that will help you decide if you want to invest in an improvement:

Wall-to-Wall Carpeting

Installing wall to wall carpeting may add to the pleasure of living in the home, but it will not be a selling feature. In fact, buyers often view carpeting as a negative issue, because carpet is thought to be full of allergens and general household dirt. There is a growing concern over the chemicals used in manufacturing carpet, and the impact these have on the health of the home’s occupants. Color and style is another issue for many buyers because not every one will appreciate your preferences. As carpet ages, it becomes less attractive, and although you may find the carpet to be just fine, buyers may not.

High Priced Upgrades

Buying stainless steel appliances for the kitchen is a significant investment that buyers are not willing to pay for, and particularly if the rest of the kitchen remains unchanged. Even if the kitchen is completely remodeled but the bathrooms are outdated, the home will have a half-finished appearance. Putting high end tile in the foyer without changing the surrounding floor will be a detraction for buyers. Media rooms with surround sound is not something that buyers will be eager to pay for.

Swimming Pools

A swimming pool may make a home worth less than a similar home without a pool. The upkeep and the liability is a deterrent for many buyers. Families with small children will most likely not be interested in a home with a pool. Besides the danger factor, the cost of insurance and maintenance is money people will want to spend elsewhere.

Elaborate Landscaping

A home that has expensive and elaborate landscaping can cause buyers to believe that it will cost a lot of money to maintain the landscaping. if they choose not to spend the money or commit to the labor, then buyers will know that the landscaping will soon become an eyesore. A neat, well trimmed yard with self sustaining trees and shrubs will work fine.

Home Remodels that are Overbuilt for the Neighborhood

Adding a $100,000 remodel or addition to a home in a neighborhood of homes that sell for far less money than the total investment in the remodeled home, will be money lost. Overbuilding for the neighborhood is not going to attract buyers.

The Bottom Line

Every buyer will expect that the HVAC system works. If it is a new system, then the money is not recoverable in the sale price. Any investment in maintenance is something buyers expect.

Before making any investment in your home, discuss it with a real estate agent who knows the local market. You can get solid advice to help you make an important financial decision

For more information regarding real estate tips, visit Kathy McCarthy’s website or Facebook page!

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