Before you start your next home improvement project, it's important to know which upgrades won't increase the value of your home. While it may seem like adding square footage to your living space would be great for the value of your home, it's not always the case. Converting your garage into a living space could actually damage the value of your home, not improve it. And if you only update a room with luxury upgrades, it may not be worth the cost.
It's important to look at other homes in your area to get an idea of their sizes, number of rooms, etc. Expanding a room may mean sacrificing space in an adjoining room, which could result in two bedrooms being converted into one bedroom and an office. This could have a negative impact on the value of your home. Bright, flashy paint colors can also be a deterrent for potential buyers.
Repainting a room before you put your house on the market is an easy solution. Choose neutral colors to present buyers with a blank canvas and help them imagine the house in their own style. If you want to make extravagant improvements to your home, keep in mind that custom and luxury upgrades typically only recover a fraction of the project costs. To help you make informed decisions about your home improvement projects, here is a list of 14 common improvements that won't increase the value of your home:
- Converting a garage into living space
- Adding luxury upgrades
- Expanding a room
- Losing bedrooms
- Bright, flashy paint colors
- Custom and luxury upgrades