If you’re looking to make changes to your home that will also have a positive effect on the overall value of the property, you’ll likely want to avoid any home improvements that are considered to be a bad return on investment (ROI).
We recently published a blog post that listed some of the best return on investment home improvements you can make, so as a follow up from that article, we will now cover some of worst home improvements that can be made, in terms of ROI.
Getting rid of a bedroom
On the face of it, there’s no surprise that this alteration could be detrimental to the value of your property. The number of bedrooms is one of the main things that buyers look for when purchasing a home, so reducing the number of bedrooms will limit the number of people who may be willing to buy your property.
One of the most common reasons for getting rid of a bedroom is to create another bathroom, or homeowners may opt to turn two smaller bedrooms into one larger room. However, if you are planning to make a change like this, bear in mind that it will likely be detrimental to the value of your property. If you are planning on moving in the short term or midterm, it will almost certainly not be a good idea to go ahead with this kind of home improvement.
Installing solar panels
Whilst solar panels can save you money on energy in the long run, if you’re planning on selling your property – solar panels can prove a costly investment. Solar panels are expensive, and whilst some buyers may like the fact that your property has them installed, the majority will not be so keen. Some buyers may be completely put off by the look of the panels, as they are far from subtle.
Whilst it’s true that most people are becoming more interested in eco-friendly energy solutions, a home covered in solar panels may be a step too far for many potential buyers.
Upgrading the bathroom
If everything in your bathroom is in good working condition, there is likely no need to upgrade it if you’re looking to sell the property on shortly.
Upgrading your bathroom can be an expensive job, and it’s another area where new homeowners will have their own preferred style and taste. If the new owners are going to upgrade the bathroom themselves, there’s no point spending a lot of money on it just before you sell the property.
Other bathroom adjustments can also be detrimental to the value of the property. For example, some people may decide to remove the actual bath in favour of just having a shower, however, this can alienate several potential buyers.
Building a media room
Whilst a media room may seem like an exciting addition to your home, you should consider properly if it’s worthwhile if you are planning on selling the property. The issue is, fully building and installing the systems required for a media room can be seriously expensive and may require major renovation work. However, when it comes to selling the property, potential buyers may not want a media room and would rather use the space for other purposes
Overall, it’s likely that the amount you spend on a media room will not equate to the amount of value added to the property. So, if you’re planning on moving out shortly, it’s better to stay away from the lure of a fully-fledged out media room!
Putting down new carpet
Laying new carpet can be a costly job, and if you are planning on selling your property shortly, it may not be a job worth doing. Everyone has their own individual tastes and preferences, and the chances are that buyers may want to choose their own carpets or a different type of flooring.
It can be much more cost effective to ensure your current flooring is cleaned properly and doesn’t contain any gaps or stains.
Fitting a new kitchen
Similarly to bathrooms, kitchens can be a matter of personal taste – so fitting a new one just before you sell the property to someone else may not be the best idea. Kitchens can be one of the most expensive rooms to renovate, which is why it might not be a good idea to fit a brand new one, even if it’s not in the best of conditions.
It can be tempting for people to overhaul their kitchen before moving out, to give the room a modern feeling. But this modification can turn out to be a huge waste of money and in some cases, the new buyers may look to get a brand new kitchen fitted after moving in to suit their own requirements.
