RENOVATIONS are usually meant to add value to a home, but some kitchen remodels could actually DECREASE what your residence is worth.
Though kitchens are often the first room that people go to when craving a remodel, experts warn that kitchen renovations should never exceed 25 percent of the home’s value because homeowners might not get much value out of the changes.
For example, overly customizing your space is risky because taste differs from buyer to buyer. Stylistically neutral upgrades and renovations are the safest way to go.
Wallpaper is an example of a customization that could put off potential homeowners because of distinct patterns or textures. Experts advise that a safe bet is using fresh paint or neutral colors.
Another big mistake that renovators make is using outdated materials like oak cabinets, or cheap and easily-damaged materials like marble countertops — meaning that the changes will eventually have to be updated.
“The last thing you want to do if you sell your home a few years later is to have to replace all the kitchen cabinets because they are falling apart,” said Tomas Satas, founder and CEO at Windy City HomeBuyer.
Adding high-end electronics and appliances to your kitchen is another no-go if you don’t plan on selling your home immediately, experts say.
“Smart appliances are great. But keep in mind that the tech you put in today will be outdated if you sell three to five years from now,” real estate consultant Will Rodgers told GoBankingRates.
“High tech kitchens are for your convenience, but will only add value if you plan to sell soon.”
Another common renovation failure is sacrificing storage space for a more open-concept room. Though open concept areas are trendy right now, storage space is necessary for a kitchen.
Finally, there are some remodeling moves that are best left to professionals.
DIY renovations could seriously hurt your home’s value because if it’s not done by an experienced contractor, there’s a chance the repairs could have been done incorrectly.
Plumbing is another part of the process that homeowners should leave to professionals, or it could devalue the entire renovation.
“While some handymen are definitely talented with plumbing, it’s extremely easy to make a mistake,” says Jake Romano of John the Plumber.
“If someone notices one mistake, they’re going to question everything.
“My advice is hiring licensed plumbers to do plumbing work, keeping receipts and warranties, and providing the documents to potential buyers.”
Though DIY renovations in your kitchen might decrease home value, there are other changes you can make around your home to give it a facelift.
Another home renovating expert recommended that remodeling should start in the kitchen or the bathroom.
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