Avoid these mistakes if you don’t want to decrease the value of your homeFeature of the week
While every urge in your body may compel you to try and sell your property quickly in the current market, it is important not to rush your project in a bid to capitalise on soaring property values. After all, such haste can trigger poor or ill-considered decision making, creating a scenario where you spend recklessly without adding tangible value to your home. This is to be avoided at all costs, as it may even have the potential scupper your moving plans.
With this in mind, it is crucial that you first understand the renovation and remodelling mistakes that can reduce the value of your home.
This may seem like a strange observation, but it is possible to invest in excessive home-improvements that ultimately end up costing you money. This is because each modification has an estimated ROI in the current market, while the variation in costs means that each must be given careful consideration. There is also no point in attempting to increase the value of your home beyond the regional market standard, as this will result in a thumping financial loss and hinder your chances of selling quickly.
The development of a unique and personalised space
Personalisation is considered to be a positive thing in so many market sectors, but it can actively detract from the value of a listed home. This is because a customised DIY living space that has been tailored to your precise style lacks generic appeal, which instantly restricts your market and creates an oppressive space that suffocates potential buyers. While you may love bold colours, unusual textures and elaborate finishes, buyers prefer a neural space that affords visitors the opportunity to visualise their own modifications.
The removal of internal walls
It is easy to become preoccupied with the notion of space when marketing your home, as this is a huge concern among buyers in the modern age. This makes the idea of removing an internal wall appealing to vendors, although this can often have the opposite effect and reduce both the value and appeal of your property. While it may create a vast open space, it also reduces the number of individual rooms and this can deter families from making a bid. The decision to remove bedrooms also diminishes the value of your home, so think carefully before making decisions that alter the permanent structure of the property.
The editorial unit