Home Improvements That Hurt the Value of a House
What you like in a home is not always going to be what someone else likes. That can be helpful to remember if you’re thinking of making some home improvements. After all, even if you may plan on living here until you’re carried out (grim as that sounds), someonewill likely buy your property someday, and someone, maybe your children, will sell it.
Of course, we’re talking about your home. Go with orange carpet and purple walls if you want. It is your house. Still, if you’re making improvements and taking cues from shows you’re watching on television, you may come to regret it later, says Allen Shayanfekr, CEO of the New York City-based real estate investment company Sharestates.
“The stuff you see on TV is for entertainment, and it’s not always the most profitable way to operate,” he says.
Here are some home improvements that may make it harder to sell your house one day.
Turning an extra bedroom into a walk-in closet. This is done more often than you might think, say many real estate agents, and many of them will also tell you not to do it.
Thomas Miller, a listing specialist with Keller Williams Capital Properties in the District of Columbia, says he had a client who had turned a four-bedroom home into one with three bedrooms and a large walk-in closet.
That sounds like a fine idea, but in this case, the fourth bedroom was in the basement, and the sellers had taken the third bedroom upstairs and made that the walk-in closet.
Miller says that most of the buyers in this neighborhood had children.
“Having the third bedroom in the basement was a deal-breaker for the majority of thepotential buyers because they didn’t want one of their kids sleeping in the basement two levels apart from the rest of the family,” Miller says.
The house was eventually sold, for about $40,000 to $50,000 less than the original sales price.
Sissy Lappin has similar thoughts. She is a Houston-based real estate broker and co-owns ListingDoor.com, a website that helps people sell their homes without an agent. Bottom line, she says: “Buyers value bedrooms more than closet space.”