Are your home remodels bringing your home value DOWN?

Hey there homeowners! Are you working to build some extra equity in your home so you can get more in your pocket when the time comes to sell?? Most homeowners immediately think of updates and remodels when they think of improving their home's value and while it's not incorrect, there are definitely situations where home remodels can bring your value down instead of up, and that's what we are talking about today!

1. The first scenario we unfortunately see all of the time, is work that is poorly done. It is better to do nothing at all than to do a bad job. Whether you're revamping your flooring, taking on a full kitchen remodel or just giving your bedroom a fresh coat of paint, the emphasis should always be on the quality of the work. When repairs or remodels are done poorly, potential buyers will see the work as completed but feel it is necessary to re-do to do the job right to meet their standards, so the price will come from your home's value as they calculate what it will take to redo the work.

2. Are you a fan of blue cabinets? How about yellow walls? While the benefit of owning a home is customizing it and making it your own, if you have plans to sell this might be something to avoid. While you might adore a bold color scheme or unique design elements, they won't fit with the general buyer market. Opting for a more neutral pallet or generic finishes, will help your home appeal to more buyers and give the home a "move-in ready" feel, rather than buyers feeling the need to immediately redo some of the work to make it fit their style and aesthetics.

3. And lastly, be sure to consider your neighborhood and comparable homes. If your renovations significantly exceed the norm for the area, you may struggle to justify the higher asking price. We don't want to be the home trying to set the new benchmark sales price, we want to have solid comparable homes to backup our list price. So, striving for consistency with neighboring properties ensures your home remains competitive in the market, if many homes around you are doing renovations and remodels then it's probably a good idea for you to do that also. If there are very few homes renovating and selling in your area then you may not be able to get out what you put into it.

If this all is feeling a little overwhelming, I'm here to help! Whether you're looking to maximize resale value or simply improve your living space, I can provide expert advice tailored to your needs. By focusing on value-enhancing repairs and avoiding unnecessary upgrades, we can ensure your home stands out positively in the real estate market. So before you take on any big projects, reach out to me and I can provide my professional guidance on how to best move forward.

To see a video on this topic visit this link to my Youtube Channel where I explain this topic in greater detail!

https://youtu.be/DyesZ4Qxpvk