When homeowners decide to remodel their home, they usually do so with the thought that they are automatically adding value to their home. While this is true for many situations, it is not a guarantee. For instance, overly personalized remodels, unusual remodels and partially done remodels can drastically reduce the value of a home. If a homeowner is planning on living the rest of their lives in the house, they should feel free to remodel and decorate to their liking. However, if a homeowner is planning to sell the home and wants to recoup money spent on the remodel, they should avoid the following remodels.
Overly Personal Remodels
Many times homeowners will choose a decoration theme for rooms in their home. While this is fine, it can decrease the value of your home, if it is overdone. For instance, a homeowner in Amarillo, Texas, may want to pay tribute to their Texas heritage by choosing a western theme for their kitchen. However, if the theme includes permanent fixtures in the room such as the chandelier or the cupboard fixtures, it can decrease the value of the home because the next homeowner may want to change the decoration, which would require an investment from them.
Remodels that Make the Home Stand Out
Homes located in neighborhoods can see a decrease in their home value if their house stands out from other homes in the area. While you may love the huge sun porch you added to the back of your home, the next homeowner may not like the way it looks differently from others in the area. To avoid creating an addition remodel that will decrease the value of your home, make sure your new addition is aesthetically pleasing and matches the look and feel of the neighborhood where it is located.
While most home remodels will definitely increase the value of a home, there are some remodels that will have the opposite effect. Taking the time to find out what will make you happy, and will help you recoperate your money in the future will help you to create a remodel that makes money, instead of losing it.