5 Renovations That Could Hurt Your Home’s Resale

Unlike the homeowner of 25 years ago, today’s typical buyers plan to live in their homes for just five to seven years. So it’s more important than ever to consider resale when making home improvements. Even if you’re a buyer, it’s important to think like a seller, too, from the time you sign the purchase contract through any home improvement or renovation projects. The goal: Think about how your improvements might affect the sale of your home down the road. Below are five home renovation/improvement projects that could actually hurt your home’s resale.

1. Going Overboard On Landscaping or Gardens

A homeowner/seller may have a green thumb and be really proud of the time spent on the garden, the hedges or landscaping. But the next buyer might see it as too much maintenance, especially if you went overboard with your green thumb. Potential buyers may not be willing to pay for it (as part of the home’s overall price), hire a gardener or do the work themselves. This is especially true with Millennials and Gen X-ers. Of course, your property needs curb appeal, and nice landscaping does sell. But it could be just as easy to do a quick, inexpensive yard once-over before going on the market.

2. Converting a Garage Into a Family Room

Converting a garage into a family room may make sense if you don’t have a nice car or you simply want a bigger family room. Some people think a driveway is enough. But this is a huge “no-no” in real estate. A garage is expected, especially in the suburbs. If you take it out, you lose a huge chunk of buyers who simply won’t consider a home without a garage.

3. Taking Out a Bedroom

It’s common today for people to transform a bedroom into a huge master closet or into a home office with a built-in desk and cabinet. If you do, make sure the room can be easily turned back when you put the home on the market. Buyers with kids may need that bedroom. They’ll see the room you converted into a home office or closet as more money they’ll need to spend to turn it back into a bedroom.

A home office is the easiest to undo, as long as you haven’t built in intricate desks, shelves and cabinets. A large closet generally goes within a master bedroom, which includes taking out a door or putting up a wall — all of which is harder to undo.

4. Adding a Swimming Pool

Similar to landscaping, a pool requires maintenance and is an even bigger liability. This is very particular for certain parts of the country. If you’re in the South, in a warm environment, you can get away with it much more easily. A pool would be a common “must-have” on many buyers’ wish lists.

If you’re in an area where it’s only warm a few months a year and pools aren’t common, adding one could be a big mistake. Then again, it’s your home, and if you plan to be there a long time, add the pool. Just know that it may be a turn-off to future buyers. When in doubt, consult your agent.

5. Adding Highly Personalized Colors, Finishes or Fixtures

Often, homeowners put in tile, sinks, vanities, countertops and floor coverings that are hard to replace, and yet are specific to their tastes. For example, you may be obsessed with the Moroccan tile from your Marrakesh vacation last year and want it in your kitchen. But the next buyer may not be so enthusiastic. Similarly, installing ceramic or marble tile all over the floors may be a costly mistake that others won’t want to pay for. Some homeowners assume that because they spent $50,000 in such upgrades, their homes will be worth so much more. But what may be a highly personal touch could make your home look like a “fixer-upper” to others. The end result: You’ll turn off a lot of buyers who don’t like your taste and don’t want to do the work to undo it.

 

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Article by AOL Real Estate

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Spruce Up Your Properties For The Big Moving Season

Spruce Up Your Properties For The Big Moving Season

Posted on 22. May, 2013 by Marc Courtenay in Business

As we all know it won’t be long until school is out and summer arrives. That is traditionally the beginning of the time that owners and renters are more likely to move to new locations. It’s also the time when the vacancy rate can fluctuate and the turnover rate increases. Whether your owner-clients are thinking about selling, raising the rent or just want to fill the vacancies faster, a spring makeover can be a big help. Here are a few simple ideas that can help bring the buyers and the new residents in droves.

First do all that you can to improve the buildings’ “curb appeal.” It doesn’t matter if it’s a house or a multi-family complex, the first impression that a potential buyer or renter receives when they drive by or up to the building can make a huge difference. If that first impression doesn’t say, “You or your potential residents are going to love living here” then get the help of some exterior consultants who can give you ideas. Planting lots of flowering plants, repainting the doors a universally popular color or small touches like quality front door mats can help.

The use of window boxes filled with geraniums, pansies and primroses can give that warm and “homey” look to an older building or house. Painting the front porch, trimming the trees and generally improving the landscaping can work wonders. Instead of spending a lot of money to paint the house or complex try pressure-washing it to see if that will be enough to freshen it up. Clear away any debris, trash and unsightly objects that send the wrong message. Replace damaged or warped screens on windows and make sure those windows are clean!

Patio furniture, play areas, awnings and shutters should also look clean, neatly arranged and well-maintained. Send the message to potential buyers and renters that you take pride in your buildings and you want your residents to enjoy a positive “quality of life” experience. If your houses or apartments are older consult with a company that specializes in renovating without losing the valuable architectural features and elements. It may be worth it to spend the money to remove and replace poorly insulated windows and doors, even if you have to take out a loan to do so.

Interest rates are the lowest in history and home improvement or equity loan money is more available. Now may also be a good time to clean or replace badly-stained carpets and railings. The goal is to take a building that may look old, moldy or dilapidated and to make it look inviting and qualitative. “Staging” is another good idea and there are realtors who are experts at doing just that. It can include some inexpensive but nice-looking patio furniture or updating the light fixtures inside the residences. If you get some second opinions from people who’ve had success at this you’re bound to experience more success yourself. You’ll also attract better prospective owners or renters, and that’s important too.

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Two Complimentary Tickets to This Weekend’s Fort Lauderdale Home Design & Remodeling Show

Two Complimentary Tickets to This Weekend's Fort Lauderdale Home Design & Remodeling Show

Click here for two complimentary tickets to this weekend’s Fort Lauderdale Home Design & Remodeling Show – May 25-27, 2013 @ the Broward County Convention Center.

Broward County’s largest one-stop marketplace for home improvements, interior design, home accessories, landscaping, outdoor luxury living and more!

Visit http://www.homeshowspecials.com for more details