If you have paid attention to the housing market recently, you might be thinking about selling your home soon. You might even be thinking about taking on a few remodeling projects in an effort to maximize the return on your investment. On the other hand, not every project will help you turn a profit, and some might even make your house less appealing. Take a look at a few home remodeling projects your should avoid if you plan on selling your house soon.
Remodeling The Bathroom
You might be thinking about remodeling your bathroom to turn it into a miniature spa. While this might be attractive for you, it will not necessarily help you increase the value of your home. Remodeling the bathroom doesn’t generate a huge investment return, and if the plumbing system has to be moved or adjusted, it could delay the sale of your home. Problems often arise, parts are hard to find, and a project that should have taken a week could last a month. Avoid remodeling the whole bathroom if you want to sell your house soon.
Renovating The Living Room
While the living room is often the central area of the home, it is not an area you should renovate if you want to sel your house soon. In addition to being a major project, not every buyer wants an updated living room. Eclectic color choices and odd dimensions that often result from a living room renovation can shrink the number of people who make an offer on your home, depressing your potential sale value. If you leave the living room as it is, you could appeal to a wider market, potentially putting multiple offers on the table.
Reducing The Number Of Bedrooms
Before you take a hammer to the closet, remember that it could reduce the number of bedrooms you have. This could significantly harm the sale price of your house. A creative workshop or art studio might appeal to you, but it won’t appeal to a wide market, particularly people with kids. Those buyers could offer more money. In general, more bedrooms means more money, so keep the bedroom intact.
Consider looking for smaller projects if you want to sell your house soon.
When you buy a home, you probably have a budget you will try to stick to. Many people choose a 30-year fixed mortgage, and by the time you pay off the home loan, you should own your home outright. At the same time, you might be thinking about paying off your mortgage more quickly to save money on interest. Even making one extra mortgage payment per year can provide a number of significant benefits.