It is so easy to make BAD choices in home improvement. Bad home improvements makes a property harder to sell. A few "improvements" can actually reduce the value of a home!
Few buyers will pay a premium for pebble dash, and heavy use of wood - or worse still - fake pine panelling (a definite no-no).
Change Is Not Always Good
Taking out period fixtures and fittings, such as fireplaces, is generally a bad move in most cases. Rather incorporate an old home's original signature fixtures into your new home design.
A new home is usually designed as a whole. Changing a signature part of your home, no matter how much of an eye-sore you may find it, may simply disturb the balance and charm of the home.
Fashion has a way of coming back in a big way. You don't want to spend a lot of money on changes to later realise that those changes have cost you a lot of money without adding any value, now do you?
Extravagance Is Not Always Good
You may think extravagance and customization will allow you to sell your home for more than any other home on the block. But don't be misled.
The home that has everything - tennis court, swimming pool, sauna, jacuzzi, billiard room and even squash court, the owner's pride and joy, becomes a nightmare when he wishes to sell and recover the costs for his luxurious indulgences.
Not every buyer wants such luxuries, and many (or most) are reluctant to buy a home with high maintenance-cost features that may not be used sufficiently to justify the additional cost. So, consider any planned high cost, low-value renovation or addition very carefully.
You may decide to still go ahead with your luxury home improvement, because the advantages for you outweigh the possible financial loss, but you should understand what you are getting into.
Since extravagant items are usually not practical, they are not going to be first on a buyer's list of priorities. When considering the purchase of a new home, buyers may view some luxuries as perks, but first and foremost they are going to be thinking about costs and liveability. Does the home have enough space? Rooms? Bathrooms?
Homebuyers tend to expect getting those luxury perks for next to nothing!
Decorating
Some simple landscaping or decoration can drastically improve the initial appearance of your home, while making a statement about how well you care for your home.
Decor is very subjective, though. If a place is reasonably neat and tidy, serious buyers will see past your colour schemes, pictures and furniture, even if your taste is mildly eccentric.
There does come a point, though, when the decoration of a home could put buyers off! It is also true that some styles, especially dark colours and heavy furniture, can make a property look smaller than it is.
Improvements and property value
It is the serious projects that have the potential to dramatically lift the value of a home, or, in some cases, lower it. Any big project done badly can knock thousands off a property's price. By the same token, it's not always the most expensive jobs that bring the biggest returns!
Simple improvements are unlikely to add value to a home, in the sense that it will move it into a higher price bracket. What it should do, though, is make any sale quicker and easier. In turn, this makes it more likely that buyers will pay close to the asking price for the property. So the amount of money in your pocket at the end of the process should be more.
Only a few projects will actually recoup their full costs, but this might not really matter.
Unless you are buying a property purely as an investment, any improvements you make will have a value of use for you. This value could be more desireable than any increase in the value of your home. Improving your home, using it for several years and recouping most of the costs on selling, can be as valuable - if not more valuable - than a simple cash gain.
Bad Choices In Home Improvement
Bad choices in home improvement are easy to make, but just as easy to avoid.
Your motto should be, "form follows function." Extravagant renovations that you find creative and beautiful may make living in your home difficult. Figure out what type of remodelling will ultimately offer the best functionality. What will make things easier and take the least amount of time to maintain?
If there is one rule for improvements, big or small, it is to do whatever you do well. Quality will almost always hold its value in the longer term. So go for the best you can afford, and then sit back and enjoy it!
