Home Renovations to Avoid If You’re Planning to Sell Your House
Home renovations are often done to suit the preferences of the homeowner. You can pretty much do whatever you want to make it a better place for you to live in. On the other hand, if you’re vaguely planning to put your house up for sale in the future, you can’t just think of your own preferences. You also have to think about the wants and needs of buyers looking for the various real estate listings in Sherbrooke and other areas in Canada.
The right renovations may not actually raise the price of the house for you to return your initial investment in the renovations. With the possible exception of putting in a new entry door, usually the increase in the price doesn’t recoup your expenses. However, your renovations can at least help you sell your home faster.
But did you know that in some cases, your renovations can really bring down the value of your home? Not only will your expensive changes result in a lower price for your house, but they can also make your house a lot less appealing for potential homebuyers. In some cases, it may even make your home unsellable.
If you’re planning to sell your home a few years down the road, here are some renovation rules you want to keep in mind:
- Don’t renovate without a permit. Regardless of what changes you want to do to your house, you want to make sure you get the proper permits first. Many places require permits before you can make major (or even minor) renovations. When it’s time for you to sell, many buyers will ask for copies of the permits for any renovations you may have done. Some places may also require inspections of the house first before any home sale is finalized. If you’ve had some renovation done without any permit, you may be fined, and the renovation may even have to be torn down and redone before it can be resold.
- Don’t put in a swimming pool. Yes, in some places in North America there are warm places where swimming pools are expected and perhaps even desired. But that’s’ generally not true farther up north in Canada. That’s because pool maintenance represents a rather pricey proposition, and up north these pools have to be opened and closed every year. It’s more of an expensive hassle than an asset. If buyers want a pool, they can put in one themselves. But for the most part, you’ll just scare off potential homebuyers.
- Don’t put in too much color. Well, actually you can if you want. You can put any color on your walls because it’s your house. But when it’s time for you to sell your home, you have to get those walls repainted with neutral colors. The same is true for any furnishings or appliances with an unusual color.
This is because neutral colors aren’t objectionable to most people. With too much color, a negative reaction is much more likely. Even if they can repaint the walls, their emotional reaction to the objectionable colors can keep them from liking your house.
- Don’t convert your garage. While it may seem to make sense save money by converting a garage into additional living space, it’s not something most homebuyers want. This is especially true up north in Canada. The garage won’t really feel comfy as an extra bedroom, while most people want a garage so their car is protected during the cold winter months.
Just keep in mind that your renovations aren’t just for you, even if you own your house. You have to think long-term and consider the preferences of your potential homebuyers in the future. If you’re thinking about renovating to improve the value of your home—you better stop. If you’re renovating to simply satisfy your whims, you need to understand that you’re not just paying for the renovation expense. You’re also paying by reducing the value of your home.