Although you want your home to reflect your family's personality and have character, you also want to consider the value of your property. When you're planning a home improvement project, be sure that it will increase your home's resale value.
Here are some common upgrade mistakes:
1. Colors: Bright and bold paint colors are okay for an accent wall, but use them sparingly. Having too much color can turn off a potential buyer who won't be able to envision themselves adding their personal touches to the space. Light, neutral colors are best.
2. Wallpaper: Although you might want to go with wallpaper for the patterns and textures, it can actually be a poor design choice for your home, and is also extremely difficult to remove. Buyers often want "move-in ready" and the thought of having to remove wallpaper is discouraging. Fresh paint and neutral colors are always a safe bet. If you are set on wallpaper, try an accent wall instead of the entire room.
3. Carpets: Colors and textures are personal preference. Having carpet installed can decrease your home's value. Go with hardwood floors and area rugs instead of wall-to-wall carpeting. Hardwood floors can increase your home's value by up to 2.5 percent.
4. Light Fixtures: If you're considering installing a lavish, over-the-top light fixture, you may want to take a step back and consider the big picture. Choosing something flashy and trendy may appear outdated in 5-10 years from now. Going the simple and classic route, however, will potentially avoid having to replace it if you list your home for sale.
5. Luxury Bathroom Renovations: An upgraded bathroom will certainly add value to your home, however, don't get carried away. Over-personalized fixtures and over-the-top tubs may scare people off. Consider a walk-in shower to appeal to a wider audience.
6. High-End Kitchen: When upgrading your kitchen, keep it simple. You don't want to spend more on the project than it will add in value to your home. To get a return on your investment, focus on which areas in your kitchen are most outdated. Go for mid-range appliances instead of expensive high-end options.
7. Home Office: Many people work from home and want a dedicated space to do so. If turning an unused bedroom into a home office, be sure to change it back to a bedroom before listing your home. Losing a bedroom could devalue your property by at least 10%. Avoid any built-in desks or shelving units that are not easy to remove.
8. Landscaping: To some, "curb appeal" means tons of plants, flowers, stones, etc. However, to others, having too much "landscaping" is a turn off. To a homebuyer, costly landscaping adds dollar signs. The maintenance and upkeep might be too much. Keep it simple and easy to maintain. To spice it up, add a few lawn or garden decorations that can easily be removed.