SPRING is the peak season for home buying, but there are several mistakes sellers often make.
One of the most costly is miscalculating the value of certain home repairs.
This problem is rampant today as Americans spent unprecedented amounts of money on their homes during Covid.
From gardening to home improvement projects to painting, homeowners are spending more on their property.
The home improvement business as a whole has seen a boon.
Home Depot made record-breaking sales of $40 billion over the past two years.
If you are planning to put your home on the market, there are some improvements that you should think twice about.
1. Too much wallpaper
The advice of most real estate agents is to declutter the house.
Sellers should allow potential buyers to envision themselves occupying the space.
Wallpaper can get in the way.
Homebuyers may also view wallpaper removal as another headache they would rather avoid.
2. Too much carpeting
Like wallpaper, carpets can also distract from the home.
Homebuyers are bothered by the idea of having to remove it.
In addition, parquet floors show fewer signs of wear.
3rd bedroom combine
Combining bedrooms to create a larger space might seem like a good idea, but real estate investors say it’s a bad move if you don’t plan to stay indoors forever.
Experts say that instead of tearing down walls, sellers should try simple tricks to make each bedroom appear larger.
Vendors can try painting the walls lighter colors or replacing old furniture with modern and sleek pieces.
4. Remove cabinets
Prospective homebuyers are known to count the number of closets during home inspections.
They are a key selling point.
Sometimes there is a temptation to remove storage space to allow for new additions like a bathroom upgrade, but this should be resisted.
5. A swimming pool
Contrary to popular belief, a swimming pool is not the best way to upgrade your home.
In fact, according to HouseLogic, a swimming pool could only add 7% to the value of a home — and only under certain circumstances.
In addition, they can limit the number of potential buyers, since the majority of those interested in a pool are usually young families.
And then there’s the maintenance.
Maintenance can get expensive, especially if you live in a seasonal climate where the pool would need to be winterized.
6. DIY repairs
Not all DIY repairs will affect the value of your home, but you need to be strategic.
The key is to avoid personalization that would not suit a future owner.
You want to keep your property as marketable as possible.
The Sun tells the story of a couple who tried to sell their house only to find they only own half the garden.
We also round up the states that are providing up to $80,000 in mortgage and bill of exchange assistance to struggling homeowners.
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https://www.the-sun.com/money/5023347/renovations-that-could-hurt-the-value-of-your-property/ Six home renovations that could take $1,000 off your property’s value