When attempting to make improvements to your home, it’s important to determine which changes are going to give you a good return on your investment. Spend your money wisely by avoiding these 6 downgrades that are disguised as upgrades.
High End Appliances
High end appliances are a nice touch to a kitchen. There’s no denying that. However, a buyer isn’t going to pay more for this feature. It’s not something that’s high on ‘dream home wish lists’. If someone is passionate about cooking, they will put in their own high end appliances. It’s not a difficult change to make. Buyers will not, however, purchase a home based on the appliances. Before you spend a small fortune making these purchases, consider putting that money into other areas of your home.
Even if you work from home, creating a home office does not yield a good return on investment. Buyers still consider designated office spaces as too ‘niche’. Again, people typically won’t buy a home specifically because it has a home office. However, they will buy a home with an extra bedroom that they can use as a workspace.
Reducing Number of Bedrooms
If you ever find yourself debating whether or not to get rid of a bedroom in your home, the answer is always no. Don’t convert a bedroom into a giant walk in closet. Don’t combine two bedrooms to create a giant master suite. When people are looking for homes to purchase, they’re often basing their search criteria on the number of bedrooms a home has. Taking away bedrooms takes you off the radar of a lot of buyers.
Converting your Garage
Do not convert your garage into anything. No bedrooms, no mother in law suits, and no weird expansions are going to add real value to your home. Leave your garage as is. If you want to do an addition to your home in another area, go for it. But the garage needs to stay intact.
Think twice before you construct an outdoor shed. An article written by Sarah Crow for bestlifeonline.com states, “Outdoor space is a major selling point for many buyers all over the country, one they’re willing to pay top dollar for. In fact, according to the 2017 Taylor Morrison Consumer Survey, 56 percent of buyers said they’d be willing to sacrifice a larger house for more outdoor space. Given that statistic, it’s no surprise that a massive shed dividing up your yard would be a downgrade, and an expensive one at that.”
Heavy Duty Surveillance
While a heavy duty surveillance system might bring you peace of mind, it’s not an upgrade that will result in more money when you sell. Extensive security systems actually creep buyers out. It makes them feel like their potential neighborhood isn’t safe.
If you’re spending your hard earned money, make sure it’s on upgrades that will make you money in the future when you decide to sell your home.