There’s nothing worse than putting $20,000 into a home remodel just to find out you only increased your home value by $5,000. You’ve basically lost $15,000 on the remodel at that point. But at the same time, it is important that you change your home to be exactly what you want. That is why you need a balance. Here are a few tips to follow when deciding how to remodel your home without losing money on the changes you’ve made.
The Number of Bedrooms
You may not lose much value if you drop the number of bedrooms in your home from five to four, but going from a three bedroom home to a two bedroom home will significantly decrease the value. Why? Because the average person wants the same thing in their home: three bedrooms, two baths, and a two car garage. By taking away extra bedrooms, you’re losing a lot of value. This is a lesson Nancy and Thomas James had to learn the hard way when they remodeled their home to remove all closets making it, technically, a one bedroom home, according to the Norwalk Reflector. Technically, they now only have a one bedroom home since none of the rooms left have closets. Even though they had no need for all the extra closets, the value of their home decreased to everyone else who saw it. Having closets is more practical. Use the rooms for whatever you like, but keep the closet space for resale purposes.
The next thing people usually do wrong is paint. Stick with neutral colors. Maybe you really want a bright pink bedroom for the new baby, but people will pay less for a house they have to do extra work on. If you want to do blue, do a soft, neutral blue. If you want to do pink, at least pick a soft, neutral pink. Neutral colors will also make it easier on you when you want to change furniture later. You won’t have to match a specific color anymore.
The Small Things
If you are trying to sell your home, the small things are what matter most. You will want to make sure and cover things that aren’t appealing to look at, like baseboard heaters. It is also a good idea to keep the design simple. People want to walk into your home and see almost no clutter, so keep all the extra stuff organized or shoved in a closet somewhere. It is the small things that make all the difference.
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