Some
renovation upgrades, such as kitchens and bathrooms, are usually
fairly reliable for adding to a home’s resale value. But there are others (and
if you’ve gone househunting in the last few years, perhaps you’ve seen a few)
that are just plain bone-headed. What’s worth the cost and what isn’t? Some of
her answers might surprise you.
Wall-to-wall broadloom
Once considered a selling feature, this is now a liability in
many buyers’ eyes. Broadloom is incompatible with pets and people with
allergies, and is perceived as hard to clean. If you have hardwood floors, have
them refinished or consider installing them if you don’t.
Whirlpool baths, saunas and indoor hot tubs
Once considered chic, these are now often seen as just
expensive, energy-guzzling extras. Kathy says she once saw a home with a hot
tub installed in the living room!
Expensive built-in sound systems and home theatres
Some buyers will be attracted to this, but not everyone is an
audio/cinephile, nor will they pay a premium for a house with this feature.
Colourful bath fixtures
These went out with poodle skirts. Chances are the buyer will
just see them as a renovation to-do and will plan to get rid of them after the
purchase.
Ornate chandeliers, wallpaper and paint treatments
Taste is very individual and idiosyncratic decorating can
turn buyers off; stick with neutral, simple decor.
Odd rooms and walls
A wall bisecting a large bedroom into two unusably small ones
or a cramped powder room under the stairs or in a closet … many buyers will see
these as merely a future renovation expense. (Same goes for inexplicably
missing walls, such as a bathroom that is open to the adjacent bedroom.)
Overly fancy appliances
Stainless steel-finish appliances are worth paying a few more
dollars for (compared to equivalent white or colour models), but six-burner
professional stoves, double dishwashers and a fridge big enough for a
restaurant rarely recoup their initial cost.
Cheap laminate or vinyl tile flooring
Some types of laminate are attractive and practical; others
just look cheap and fake. Especially avoid peel-and-stick vinyl tiles or be
prepared to replace them when you put the house on the market. For not much
more money, choose hardwood, stone, bamboo or cork.
Swimming pool
There is some debate about this among realtors; to some
buyers, a swimming pool is a selling feature. But a pool rarely
recoups its entire cost, and it will reduce the number of potential buyers
interested in your home.
Finally, number-one renovation no-no:
Turning a three-bedroom into a two-bedroom home
Even if that third bedroom is miniscule, it’s still a
bedroom. No matter how spacious your newly enlarged master bedroom or how
luxurious that new spa bath, the demand for two-bedroom homes is significantly
smaller than for three-bedrooms, and they command considerably lower prices.
By Martha Uniacke Breen (http://www.styleathome.com)
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