An interesting topic that I have never considered looking into is home improvements that could decrease the value of a home. We all talk about what can increase your home value, rate of return, etc, but are there improvements that can actually hurt you in home valuation? Turns out, there are! And, this probably depends on the person who would want to buy your home next, but it is interesting what is widely considered as a “decrease-r.” After some researching on what can actually hurt your home value, I was actually a little shocked at what I found, and kind of bummed out!
I guess having your home too fancy can be off putting for many buyers. Things such as lavish light fixtures, an extremely high-end kitchen, and a luxury bathroom was all on the list. I know I don’t love a godly chandelier in a normal home either, but I am down for a luxury bath and kitchen! However, something that you may spend a lot of money on doing, you may not get the same return back on it if you go to resell. So, they say to stick to practical appliances and tubs instead of the most extravagant ones to help fit many others lifestyle. Dang, I wanted to put a fireplace in my bathroom… Maybe not the best idea?
That also brings up the point of having too many things customized to your lifestyle. Such as bright and bold paint colors or removing bedrooms for office space and removing closets and walls to make a room bigger. By doing so, you have just removed a bedroom. More bedrooms equal more value. Even small ones! And a lot of people may not be as bold as you on some colors which could be off setting. It’s not you, it’s them… Whenever I show a client a home with very bold color combos, they usually always comment on how it will not match their furniture and would need to put some work into the home already. I may have some reconsidering to do on paint color choices in my home.
This one surprised me, but they say that adding a sunroom decreases the value of a home. In fact, according to a remodel website, it is the worse renovation to make for return of investment! I love a sunroom, and here in Cheyenne, the sun shines about 300 days a year. So, I don’t care what they say, I am putting a sunroom in my home!
What do you think? Anything here that you would love to see or not to see in your next home?