A Luxury Bathroom
An upgraded bathroom can certainly add value to a home, but it’s easy to get carried away and take the idea of luxury a little too far.
Potential buyers could be scared off by over-personalized finishes and over-the-top whirlpool tubs that are hard to clean and hard for some people to climb into.
Instead, consider a walk-in shower to appeal to a wider audience, DesignBasics.com recommends.
A Home Office Conversion
Thanks to improved technology, more professionals have the opportunity to work from home, and some might consider creating a dedicated home office space to get the job done. If the new office space was formerly a bedroom, this could be a costly mistake, according to Jamal Asskoumi, real estate agent and owner of homes listing website CastleSmart.com.
“A home office is usually a conversion from a bedroom,” he said. “This already is wrong. Never convert a bedroom into anything other than a bedroom. It will devalue your property immediately. Losing a bedroom could see a 10 percent [drop] in price.”
If you must use a bedroom space for a home office, be sure to avoid any bulky built-in desks or shelving units. That way, when it’s time to sell, you can easily stage the space back into a bedroom for potential buyers to see.
Combining Bedrooms to Create a Bigger Room
Combining two small bedrooms to create a bigger room might seem like a good idea to a young couple with no children or to empty nesters whose children have left the house.
But this is a bad move if you don’t plan on staying in that home forever, according to Brian Davis, real estate investor and co-founder of renting resource SparkRental.com.
“Even small bedrooms add value to homes, as most families want children to have their own rooms but don’t mind if they’re on the small side,” he said. “In my experience, each bedroom can add about 15 percent to the value of a home.”
Instead of knocking down walls, try simple tricks to make your bedroom space look bigger, like lighter colors and modern, slim furniture.
Michele Silverman Bedell, chief executive of residential agency Silversons, told MarketWatch that she’s seen firsthand how removing a closet to make room for another upgrade, such as a larger bathroom or bedroom, can hurt a home’s resale value.
“People need closets,” Bedell said. “They’ll walk in and count the number of closets per room.”