Six home improvements home sellers have regretted doing before listing their home for sale.
These are stories from homeowners who have regretted their improvement choices. Thank you to Realtor.com for the details.
- Following current trends too closely. The story told is about changing out light fixtures. The light fixtures throughout the house in question were outdated, but fine. The seller spent $2,000 changing light fixtures to the current trend. The buyers? They hated the current trend. They had them switched out the day after closing. The moral? The seller wasted $2,000 on something that didn’t attract the buyers or get them more money for their house – and will now be removed.
- Making your home “smart” to sell it. The problem? Tech changes so quickly, that someone who is really interested in tech may not be interested. Also, the house itself matters more. Smart Houses are really neat, but it doesn’t mean they are worth more than similar homes without the smart technology.
- Adding a guest house or rental space. Not everyone wants to rent out their space or homes. If the area commands it – like it is a usual, expected thing, then it could be good. Just know that certain loan types also would not allow for a second “home” or “guest house” on a property, so make sure you understand the loan type your home may qualify for before you make a large investment on a rental space with a kitchen.
- Completely redoing your roof – if it is in good shape. This story discusses a seller who replaced their entire roof, and the property ended up sitting, and they reduced the price lower than where they expected to sell with a new roof. If your roof is in decent shape and not leaking, then it may not be a repair that is worth making. If, on the other hand, your roof is crumbling, or you have leaks – then that would be a different story.
- DIY (Doing it Yourself) to save money. Especially if you are not an expert in the field! Some minor things potentially could be OK, but really, you want it to pass inspection by a home inspector later – not just look good!
- Starting a project that may be become too much to handle. One thing that people may not think about or realize is that if you make improvements in a room like a kitchen, you have to bring that kitchen up to current code. If you are doing a large renovation? Whatever spaces are affected by the renovations are affected by the current code. Sometimes it is not worth the cost to do a large-scale renovation on a home if you are planning to sell soon. Your return on investment may not be great!
If you are considering selling a Towson home and want to know what repairs may or may not have the best return on investment, please contact me. I would be happy to share market information and data so you can make the best decisions for your situation.