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Five Upgrades That Won't Add Enough Value To Your Home
It is a common myth that all upgrades will add value to your home. While some upgrades are purely for your own enjoyment, just know that not all are profitable and you could never recoup the cost. If you're looking to make improvements that will increase your home's value, you should take into consideration that some upgrades that are of value to you might not be so valuable to potential buyers. Here are five of the most common upgrades that could actually add LESS value to your home.
Highly custom design decisions
Everybody has their own "dream" design in mind for their home. However, just because that is YOUR dream kitchen, doesn't mean that it's everyone's idea of a functional, appealing kitchen. Unless you plan on staying in your house for many years, or perhaps for the rest of your life, think twice about getting too personalized with design options. Let's use a kitchen remodel as an example. If you install a kitchen backsplash, you might recoup the cost, because "backsplash" and "no backsplash" is a noticeable one. But the TYPE of tile won't be as important as you think. Let's say you opt for a gorgeous, 2x8 marble tile instead of the normal ceramic or porcelain choices. While you might think of marble as anupgrade compared to porcelain or ceramic, it's not likely to raise an eyebrow amongst buyers. Similarly, choosing a countertop with a beveled edge that is complex and ornate can turn off buyers whose taste isn't as fancy as yours or be simply overlooked by buyers without an eye for detail. In fact, these custom features could end up costing you as buyers will be thinking about how much they will have to spend to change it to suit them. If you are planning on renovating your kitchen for the sake of selling, it is best to stick with timeless design trends and neutral tones.
Buyers will be looking for certain staples when touring your home. Getting rid of these expected spaces, or altering them into something unusual, may harm your resale value. Every bedroom, for instance, is coveted space that could bump your listing up into the next bracket. Buyers are looking for a home with three or more bedrooms. While you may think that you don't "need" that extra bedroom and prefer to knock out a wall and make it into a huge walk in closet, many buyers aren't going to share your interests. They will prefer to have the extra bedroom for their children or guests.
Incremental square footage gains
Sizeable square footage gains may be a boon in buyers' minds, whereas small changes might not give you a return proportional to their cost. For instance, building a small sunroom may be a nice touch, but it's not likely to drastically increase your home's value. A second family room is cute, but if you already have a living room and a family room to begin with, buyers won't be clamoring to pay for the additional family room. Adding square footage that doesn't flow well with the floor plan can also backfire. A half bath on the main level may be needed, but if you have to go through the kitchen to get to it, the half bath loses its appeal.
Nobody wants to buy a mega mansion on a block full of simple split levels. When your home feels overboard for your neighborhood, you'll alienate buyers on two fronts: buyers that are drawn to your neighborhood won't be able to afford your home, and buyers that can afford a house of that caliber will look for a ritzier area. Keep the base level of your neighborhood in mind. Tour some open houses in your neighborhood if you can and look at their kitchens before your spend a fortune on marble countertops and high end fixtures. Being a little nicer than the houses around you can be a selling point, but being vastly more luxurious is not.
Putting in a pool is often a hit or miss when it comes to value added. You may see some return on this renovation, but often not enough to pay for the pool itself. Adding a pool could actually be a major turnoff to buyers. Buyers with small children may be worried about the safety risks of a pool in the backyard. People that are looking for a low-maintenance backyard won't be thrilled about the upkeep involved in the pool. Along those same lines, buyers on a tight budget will not want the added cost of the maintenance of the pool. If you are in your house for a number of years, the cost of maintenance plus the actual cost of installation will make the likelihood of recouping your money very low.
If you still want to spend the money on these upgrades for your own amusement, by all means, do it. Just don't trick yourself into believing that you will greatly recoup the cost of the improvement in terms of adding value to your home.
The ambiance of your bathroom is largely dictated by the colors chosen to express the design. Color in the bathroom can yield a soothing and relaxing spa like atmosphere or a bright and energetic space depending on the combinations you choose. Using color as a detail to bring a room together isn't just for the main rooms! Here are a few examples of color combinations in the bathroom to add that final touch on your bathroom remodel.
Light, bright, and neutral
Everybody loves a bathroom with a lot of natural light. However, if your home layout does not allow for a bathroom with window access, using light and bright colors are a good way to capitalize on a bathroom without windows. The key to this is using light creams and off-white colors. Pair them with a bronze finish for a more rustic, homey look. If you need a pop of color, try a light blue or subtle green to spice things up. Remember, the lighting design will be a key point in pulling off this design, so make sure you are countering the lack of natural light with a good lighting plan.
Mixing dark and light colors
An all-white bathroom may be too bright for your taste, but that doesn't mean you want to bathe in a cave either. Mixing a dark and light color pallet makes for a striking bathroom. Balance is key to this look. You don't want so much dark that it is overpowering, and you don't want to wash out the bathroom with too much light. Try keeping the tile work and flooring on the light side, and pair it with a darker vanity or countertop option. Matte black finishes work well with this work, or you can go with chrome for a light accent on the dark countertops.
Warm woods can create a very cozy feel, but wood floors aren't recommended for bathrooms because the moisture content will cause the wood to damage and warp. Instead use a wood look porcelain or ceramic tile, or a luxury vinyl plank to achieve the wood look without worrying about moisture damage. A wood tub surround (bead board) and matching cabinets can really bring a nice, cozy look to a bathroom. Pair with brushed nickel fixtures and a light countertop to complete the look.