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6 Renovation Pitfalls to avoid when Selling Your Home

When selling your home, there’s a lot to be taken into consideration when it comes to home prep and renovations. While there are many home improvements that can earn you an excellent ROI, there are also a few renovation pitfalls that should be avoided, as the costs can often outweigh the value you’ll end up bringing to your home. Keep reading for a list of 6 Renovation Pitfalls to avoid when Selling Your Home.

Sun Room: Sunrooms are a novelty addition to a home that while aesthetic, will actually decrease the value of your home due to their high maintenance. Additionally, Sellers will only recoup an average of 47% of the project cost for a sunroom addition. Ultimately a sunroom addition is just not worth a Sellers time or money, but if you’re still looking to make a similar renovation, add a deck or patio instead.

 

Finished Basement: While a finished basement is certainly an appeal for Buyers, the cost to complete the job rarely pays off for sellers. Additionally, because of the larger scale renovation, finishing a basement can take a great deal of time, which means having to wait longer to put your home on the market. Rather than invest in a finished basement and potentially missing out on the current and active market, leave this job for Buyers to tackle instead.

 

Swimming Pool: Swimming pools are huge appeals for those living in warm climates all year-round, but here in Ontario where cold weather can last up to 6 months out of the year, the maintenance can be see as a big hassle to most Buyers and can even turn them off of your home. Not to mention the safety concern for parents with young children or infants. Play it safe and don’t invest your money on a pool, rather budget for a renovation that is sure to have a more reliable ROI.

 

Over the Top Landscaping: While at first glance an elaborate landscaping display might draw Buyers in, this could end up backfiring if maintaining your landscaping turns out to be a hard and intensive job. Buyers want landscaping that won’t be difficult to maintain. For this reason, when landscaping your lawn, keeping things simple and easy for the next homeowner.

Trendy Renovations or Personal Touches: When renovating your home, it’s best not to base your renovation on the latest design trends, as trends pass quickly and what’s ‘hot’ not may not be ‘hot’ months or even weeks from now. Additionally, don’t base your renovations on personal style or tastes either. Instead, make renovations that are neutral and will appeal to a greater audience in order to draw in as many Buyers as possible.

Bold Colours and Quirky Wall Paper: Buyers want to envision themselves in the home, so the best way to help them do this is by presenting them a blank canvas. This means avoid painting your home with bold, vibrant colours that could deter buyers. The same is said for wallpaper with quirky designs. Most buyers will choose to rip out the wallpaper and paint the walls anyway, save them the hassle and avoid the wallpaper all together.

Now that you know what renovation pitfalls to avoid, you can be sure to budget toward more cost-effective renovations that will earn you the best ROI for your home! For more advice on how to get the best reward for your home, I’m here to help!

 

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