While homeowners don’t intend it that way, some renovations do more harm than good to your home and property value. As appealing as these changes might seem to you, they might detract the other buyers when it’s time to sell. Over-customisation and drilling unnecessary holes are some home renovations that decrease property value.
We’ve compiled a list of dos and don’ts when dealing with home renovations which can affect property value.
- Over-Customisation
- Converting Bedrooms
- Going Overboard With Wallpapers
- Expensive and High-End Upgrades
- DIY Renovations
- Excessive Landscaping
- Removing Closets and Storage Compartments
- FAQs
Home Renovations That Decrease Property Value – Dos and Don’ts
Certain changes and renovations can decrease the value of your property when you plan to rent or sell it. Let’s go through the home renovations that decrease property value, to ensure we don’t make the same mistake.
1. Over-Customisation
This one tops the list because most homeowners tend to do this without giving it much thought.
Don’t
Avoid painting the walls with too dark or overly bright colours. Avoid quirky tiles or changing the layout of your home into something unusual according to your liking. It won’t get you the same return on investment and prevent potential buyers who prefer more neutral colours.
Do
When re-doing the walls, opt for neutral tones and classic designs that appeal to a broader audience.
2. Converting Bedrooms
Turning bedrooms into other types of spaces might suit your immediate needs. However, it could affect your home’s value in the long term.
Don’t
Converting a bedroom into a home office, walk-in closet or gym might be what you need. However, it can decrease the number of bedrooms in your home, which is usually a key selling point.
Some homeowners combine rooms to suit their needs which is okay if you plan on living in a home long-term. But if you plan to sell it anytime soon, buyers usually opt for homes with more bedrooms.
Do
If you need a multi-functional space, use temporary solutions. Try movable partitions and multi-purpose furniture that can easily be removed when it’s time to sell.
3. Going Overboard With Wallpapers
While wallpaper can enhance the aesthetic of your home, overdoing it may not always work in your favour.
Don’t
Wallpapers are aesthetically pleasing. But there is a fine line between uplifting the look of your home and going overboard with wallpapers. The pattern, colour scheme and texture of wallpaper that you like, might not be appealing to a majority of the buyers. Plus, it is notoriously difficult to remove the unwanted wallpapers from the walls.
Do
Instead of going for wallpapers, decide on a neutral colour scheme to paint your walls for better resale value.
4. Expensive and High-End Upgrades
Upgrading to luxury finishes might seem like a good idea, but it can limit your buyer pool and lower ROI.
Don’t
Installing expensive light fixtures, smart kitchen hoods and luxury finishes can limit your pool of buyers. Plus, it does not have a similar ROI when you sell the home.
Do
Invest in mid-range upgrades that improve the home’s functionality and aesthetics. There are some energy-efficient appliances and modern home fixtures that can be removed when need be. You can take them with you to your new home too!
5. DIY Renovations
While DIY projects can be fun, they often lead to subpar results, especially when doing more technical repairs or installations.
Don’t
DIY renovations can often do more harm than good to your home. Poorly done DIY projects, especially when drilling, plumbing and repairing can cause costly repairs later on.
Do
Always consult a professional for major repairs like plumbing and drilling. It is worth investing in professional renovation services, as they follow the UAE codes and standards.
6. Excessive Landscaping
Landscaping is an excellent way to boost curb appeal, but going too far can create a high-maintenance space that can avert buyers.
Don’t
Gardens that have extensive landscaping can be difficult to maintain and intimidate buyers. Some might like those landscaped gardens but a majority of the buyers don’t opt for a high-maintenance home.
Do
Try creating a low-maintenance space, both indoors and outdoors. As for the garden, focus on native plants that require minimal watering and care. Simple, well-kept lawns, shrubs and flower beds add to the curb appeal of your home.
7. Removing Closets and Storage Compartments
Don’t
Eliminating closets to create more open space or to serve another purpose can be a dealbreaker. Storage space is a top priority for most buyers.
Do
Instead of removing closets, consider organising them to maximise their storage potential. Built-in shelving and closet organisers can make the space more efficient without reducing storage capacity.
FAQs
Some home renovations do more harm than good to the property value of your home. They are as follows.
– Over-customising your home with bold and bright designs, colours, and layout.
– Converting a bedroom into office, library, or storage room.
– Going overboard with bold wallpapers intimidates buyers.
– Excessive landscaping of the garden.
– Removing closets and other storage compartments.
Some high-end upgrades make your home look pleasant to buyers but might be too costly. Most buyers are not willing to pay more than the market demand for the neighbourhood.
When planning to renovate your home in the UAE, consider the potential impact on its value. Avoid over-customisation, go for upgrades that align with the neighbourhood’s standards, and focus on universally appealing improvements. This ensures a good return on investment when it’s time to sell or rent a property in the UAE.
For more on property management, check out these home improvement tips for UAE properties!
