4 renovations that won’t add value to your home
If you’re in the process of designing, building and renovating a home with a view to selling in the near future, you’re likely looking at ways to maximise its value.
There are so many ways to add value to a home, for instance, replacing floor tiles with timber floorboards, maximising natural light with windows and skylights; updating door hardware, replacing the carpet, landscaping, and a fresh coat of paint inside and out.
All that said, there are some things that I believe won’t add value to your home and where you’re best leaving your money in your pocket.
1. Walk-in wardrobes
I’ve seen homeowners go to great lengths to incorporate walk-in wardrobes into their homes, deeming it a staple for an appealing and saleable home. But unlike built-in closed wardrobes, walk-in robes take up a lot of space.
They are essentially a small room unto themselves and often require renovators to punch out walls and push out the floor space in their house via small extensions.
If it’s a new build, it’s maybe fair enough but I wouldn’t bother trying to add it into an existing house. Whilst buyers will certainly be looking for ample storage, you’re not necessarily achieving that with a walk-in robe.
2. Natural stone
I love, love, love natural stone. I love its uniqueness, the range of interesting colours and unexpected patterns.
It’s also quite an investment and I don’t think it’s going to be key in driving up the sale price at sale time if the alternative is a reconstituted stone.
If you plan on staying in your house to appreciate the beautiful natural marble or granite, do it because the price of it will be justified but I don’t think natural over reconstituted will play in on auction day.
3. A Juliette balcony
I have a bee in my bonnet about the Juliette balcony. It’s that small balcony that is sometimes added off an upper-level bedroom instead of a simple window.
In some cases, it adds a much-needed dimension to an uninteresting facade but for the most part, it’s a small deck that you will never actually use.
It adds money to your overall costs and neither you nor your buyers will have the time to hang up there and sip your coffee because the coffee maker is downstairs, as are the kids that relentlessly demand your attention.
Save some bucks and install a good-looking window instead.
4. A wine cellar
It sounds good on paper, but I argue that the only homes that should go to the expense of including a wine cellar in a renovation are those in the very high-end luxury category.
Even a very small cellar requires the correct conditions for it to be coined a cellar at all. This means including things such as a wine cellar conditioner (different to a standard air conditioner); custom joinery; as well as thermal protection via adequate insulation. It all adds up to an expense that you simply won’t earn back at sale time.
SOURCE: www.realestate.com.au
