If you plan to sell your Albuquerque property in the future, you should consider how your home improvement plans will affect its value. If you want to raise the value of your home, you should invest in projects that will provide a good return.
In some cases, projects may not pay off, or they may even reduce the value of your property at resale.
Unless you plan to sell your home in the near future, think twice about doing some of these projects.
Do-It-Yourself Projects That Look DIY
DIY projects can add value to your home if you have the skills to do them. DIY projects can, however, turn off potential buyers in some cases. Think carefully about whether or not to paint your cabinets, for example.
DIY projects like painting tiles should also be avoided.
Crafty projects won’t impress buyers, and these projects can be more expensive than you expect.
Garage Conversions
The value of a home is often reduced by garage conversions. You may not be able to recoup all the money you spend converting your garage into something else if you spend a lot of money on it.
A garage’s storage and utility are big pluses for most homeowners, especially if you live in a colder climate where cars should be kept indoors.
Luxury Custom Upgrades
Your home can gain value if you make high-end upgrades, but not if you overcustomize them. There will be people who won’t like your taste.
An example would be a custom kitchen. Spending a ton of money on something that is highly specific will make selling your house difficult.
Home Additions
In terms of return on investment, adding an additional bedroom to your house that’s in keeping with the rest of your house and neighborhood can be a benefit.
You might have difficulty selling your home if you build an addition that makes it much bigger than the others in the neighborhood. If someone can afford a larger home, they may decide to buy in a more expensive neighborhood if they can afford it.
Expensive Landscaping
Curb appeal and landscaping are important for resale value, but perhaps not for the reasons you think. Water features, irrigation, and landscaping don’t add value to your property. In addition, they can be intimidating to potential buyers, who might expect a lot of maintenance.
Landscapes should be kept simple, neat, and tidy rather than overdone.
Last but not least, don’t combine multiple bedrooms to create the ultimate master bedroom oasis. The extra bedroom will be in high demand among buyers. You’re likely to lower the value of your home if you reduce its number of bedrooms and limit your potential buyers.
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