HOW TO MAKE SMART INVESTMENTS IN YOUR HOME IMPROVEMENT:

Home renovation projects are always top of mind for home owners who are preparing for a sale. But before you hire a handyman, it’s important to consider which home remodeling jobs will generate the biggest return – and which ones won’t. By selecting smart renovations, you can ensure that potential buyers will view your home favourably, and that the changes will add value to your sale.

Here’s a list of the top five home renovation projects that aren’t worth your time or money.

Eliminating a bedroom

Before you start knocking down beams or removing walls to a bedroom, think about your buyers. Many are willing to pay premium prices to have an extra room for guests, in-laws or a home office. But if you remove that room in favour of a theater, home gym or other niche space, your prospective buyers may bolt. If you must repurpose a bedroom to suit your needs while you’re still living there, consider if there’s a way to do so that is temporary. That way, you can reverse the home renovations before your house hits the market later on.

Installing a pool

Swimming pools may outright seem like they’ll add value to your home, but unless you’re living in a tropical climate, the opposite is true. Many buyers see swimming pools as a money pit for maintenance and also a liability risk. Above-ground pools especially are an eyesore for many. Instead, if you’re looking to add value to your outdoor space, smart home renovations would include a wooden deck coupled with professional landscaping and lush gardens.

High-end kitchen remodeling

Renovating an outdated kitchen can certainly be considered a smart home renovation as you prepare for a sale. But before you buy the most expensive appliances and finishes, you may be wasting money. When you consider counter tops, for example, the average buyer won’t notice the difference between quartz and marble. So it may not be worth the luxury upgrade on your part. In fact, according to Remodeling magazine, high-end kitchen remodeling priced at $125,000 tends to see a smaller return on the market than mid-range models in the $60,000 range. Leave it to the buyers to add their own high-end features that suit their needs once they move in.

Themed children bedrooms

While a hot pink, Peppa Pig-themed room may appeal to your toddler, it likely won’t have the same charm to buyers. Excessive room themes that include bright paint colours, wall paper, borders and other built-in features signal a pricey fix for buyers. Unless it appeals to their niche tastes, they’ll only see dollar signs about how much it will cost to undo your work. If you’re preparing for a sale, consider repainting and refinishing any themed rooms with neutral colours in order to generate the most appeal.

Shrinking your yard space

Green space is a premium feature for many home buyers. So before you eat away at your lawn in favour of a larger living room or den – think again. Expanding your home and eliminating your exterior space can hurt your house’s value on the market. Smart home renovations are those that remain consistent with the rest of the neighbourhood. If you absolutely must expand your home, consider doing so in a way that’s consistent with the scale of other homes on your street.

If you’re preparing for a home sale and looking to remodel, smart improvements will ensure you get the most return for your investment. But having a competitive advantage in today’s real estate market means looking at your home from a buyer’s perspective. The team at Maison Makeover will provide an expert professional opinion on the remodeling strategy that will yield you the highest reward for your home. We work with you to do a free inspection and provide a full report of our recommendations, including a quote and the new estimated market value of your home! Contact us request a complementary home makeover audit.