If you’re selling your home soon, you may consider some renovation projects to improve its value and appeal to potential buyers. While some renovations can be a great investment, there are some items you should wait to renovate to help maximize your return on investment. Here are five things you shouldn’t renovate before selling your home.
Major Structural Changes
A new roof or foundation repairs are part of maintaining a home. Therefore, if these items are in extreme disrepair or pose safety threats, it may be necessary to address these issues to sell for the most money. However, since a new roof is considered home maintenance, you should not typically expect extra value on your investment if replacing your roof before selling.
Other major structural changes to avoid making if selling your home soon are layout changes, such as removing walls or building an addition. These renovations are often costly and do not always widely appeal to every buyer.
Luxury Upgrades
Luxury upgrades, such as a swimming pool or high-end appliances, may seem like a great choice. However, they may not provide a good return on investment. While these features may appeal to some buyers, they may not be willing to pay a premium for them. Items such as marble countertops and custom cabinetry may not be necessary if the current kitchen or bathrooms are functional and in good condition. Rather than taking on a complete remodel, focus on cleaning up the current items and making any minor cosmetic repairs. Typically, the only exception to opting for luxury upgrades is in high-end homes where buyers expect to see top-of-the-line appliances and finishes.
Expensive Kitchen and Bathroom Remodels
While kitchens and bathrooms are two areas of the home that often make a big impact on potential buyers, a full kitchen or bathroom remodel can be expensive and time-consuming. Since you may not recoup all your renovation costs when selling, if the spaces are functional and not in disrepair, you can focus on smaller updates, such as changing cabinet hardware, updating light fixtures, or adding a fresh coat of paint.
Personalized features
If you’ve made personalized updates to your home, such as painting the walls bright colors or adding unique finishes, it’s usually best to undo these changes before you put your home on the market. While these features fit your style tastes, they may not appeal to potential buyers. Although your home should reflect your personality and style, when you’re selling, it’s important to create a neutral and welcoming environment that appeals to a wide range of buyers. Therefore, you should focus on creating a clean, decluttered, and inviting space that allows buyers to visualize themselves living there.
Major Landscaping
Curb appeal is essential when selling your home, but going all out with major landscaping may not be worth the cost. While a well-manicured lawn, trimmed bushes, and colorful flowers can help make a great first impression, expensive features such as fountains, outdoor kitchens, and elaborate hardscaping are typically not worth the investment. Instead, sweat equity is often enough to prepare a home for the market. Some low-cost upgrades that can significantly impact your home’s exterior include adding fresh mulch, painting the front door, trimming or removing overgrown bushes, and adding potted seasonal plants to the porch or entryway.
Renovating your home before selling it can be a smart decision, but not all home renovations are equal in terms of adding value and appeal to potential buyers. It may be surprising that some upgrades may pay off less than you think. Instead of making extensive upgrades when getting ready to sell, focus on making functional upgrades that will appeal to a wide range of buyers and allow them to visualize living there.
If you’re considering selling and need to decide if you should focus on making upgrades before listing, call our trusted real estate professionals to conduct a free market analysis on your property. Then, you can decide if renovation expenses are worth what your home will potentially sell for.