Upgrade Mistakes that can Decrease Home Value
As homes get older, they become in need of remodeling, renovating or upgrading, which is important if you want the value of your home to stay high or even increase. Believe it or not, there are upgrades that can decrease the value of your home, however, and it is important to avoid any construction or changes until you have a solid plan for upgrades that you know will only increase the value of your home. Here are a few upgrade mistakes that you should avoid if your goal is to increase your home’s value.
Exterior upgrades that downgrade
Curb appeal is vital a home of high value, so avoid crazy exterior colors that make your home stick out too much. Homes of bolder colors are tougher to sell, which is why their prices are typically lower than homes of neutral or less bold colors. Landscaping is important. Your yard should be well maintained, and according to House Beautiful, you should never landscape without a plan. When planting trees and bushes, consider the size they will eventually become so you know where they will look best once full grown. As trees grow, their roots can break up pavement, bust pipes and cause other costly problems. If trees are planted too close to the home or driveway, it can cause the value of the home to lower as potential buyers consider the future of those trees and the problems they can bring.
Interior upgrading mistakes
Paint color is one of the first things that can turn away potential buyers and make the price of your home fall, even though it can be changed. Buyers want to be able to picture living in the home, and if there are too many contrasting or bold colors it could be enough to send buyers looking somewhere else. Colors can also give the illusion of large or small space, so if your home is already small, consider using lighter paint colors to make it seem larger. Neutral colors are always safe to use when trying to sell your home because they are easier to paint over, and they do not distract potential buyers from other features of the home. Convenience of specific features is another way to increase the value of a home, so if you choose counter surfaces and other materials that are hard to clean, your home value is likely to decrease.
Skimping on important features
There are some features that are okay to buy cheap, but other features like AC units, electrical features, and windows that should be high quality in order to keep the value of your home high. Electrical sockets should have a function, windows should be properly installed and keep air from entering or escaping, and the heating and air systems should work well and keep your utility bills low.
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