When it comes time to sell your home, you may want to think about making some improvements first. While most improvements will not create a return on your investment, there are some that will. However, there are also some that will lose you money.
Thinking about what you would want out of your home is a good place to start, but every homebuyer is different, and they all need different things. Of course, you knew that; that’s why you’re reading this article, right?
Better not keep you waiting then. Here are three bad renovations that will lower your home’s resale value.
1. Replacing the only tub with a shower
As convenient as this might be for you (who doesn’t love an awesome shower with neat modern features?), don’t do it if you have a small number of bathrooms. If you don’t have any bathtubs, you risk losing buyers with kids immediately. After all, when was the last time you saw a 2-year-old take a shower? Kids like bathtubs.
Of course, if you have three bathrooms with tubs already, converting one could be beneficial. With two tubs remaining, it can give the third bathroom a different feel. Consider doing it if you have a separate bathroom attached to the master bedroom, which kids will not use anyway.
2. Creating a man cave
For those of you unfamiliar with the term, a man cave is a room in a home decorated with all things manly. Maybe it has sports memorabilia and trophies on the wall, or a comfy chair and five game systems on three big-screen TV’s, or hunting trophies hanging over a bar.
While some people may share your love of these things, odds are, not everyone moving into the home will. All the renovations you did to the room will likely end up being undone, and the buyer will give you a lower price for it. Plus, some people may disagree with your hunting/beer-drinking/football-watching lifestyle, and it’ll leave a bad taste in their mouths.
3. Swimming in water instead of cash
Homebuyers who want a pool will settle for a house without one. But if they don’t want a pool, they will turn away from any house that does have one. If they do end up buying it, despite the pool, they will be looking at the cost of removing it, and taking it off their asking price.
Why? Pools are seen as being high-maintenance. Elderly couples, or middle-aged families with two jobs each, feel like they will not have time to take care of it. If they have young kids, it may bring up safety risks for them as well, especially for in-ground pools. Sure, maybe you’ll find a buyer who loves it, but it’s better to keep a larger target market for your home.
While these three “improvements” would harm your home’s market value, remember: most renovations see an equal return investment. There are even some you can profit on; see an example of three, here.
Also remember: your home is your home, not the next person’s. Don’t get so focused on making a profit that you forget to enjoy it yourself, or else you’ll end up living with plastic wrap on all the furniture.