Home Improvement 4 House Value; Mistakes Part Two
Hello, back again for more insights on improving your house value? Great!
Budget Blunders & Fixture Fixations
Last post we talked about how personal taste can adversely affect your home's worth and also the cost to "remedy" those personal touches back to somewhere in the realm of mainstream appeal. You'll find this a recurring theme among other points in this little blog-post series.
Another recurring theme you're going to notice is references to "how long you plan to live in the home". This is one of the more critical things for a home owner to ponder because everyone wants to "make it their own" and add those cool, hip, creative or "artistic" touches, That's fine, but if you intend on selling a home down the road for a profit, be careful not to make changes that will be costly to undo before listing and marketing the home or your personal flair may take a big bite out of your return.
Did you miss Home Improvement 4 House Value; Mistakes Part One?
Budget Blunders and Fixture Fixations
Look at this modern bathroom sink and faucet. Like it? Love it? Hate it? Odds are, it's not for you, it's cool, it's different but it's just not your personal taste. Now, place yourself in your future buyers' shoes. How many out of, let's say, twenty buyers are going to feel like they need to rip it out and start over and start imaging the time and cost of such a thing.
There's a word for parts that are added to a house, and meant to be more or less permanently affixed and we Realtors call them "fixtures".
Bathroom faucets and sinks are fixtures, and will cost you to "remedy" if it's not something universally appealing, or, it can cost you buyers or cost you a better net on offers you do receive. Bathroom improvements that add actual and perceived value would be more along the lines of choice of tile flooring vs. old dated linoleum, or new shower stall and doors over the old avocado green one with the rusty colored rough and pitted caulking, and perhaps an in-wall medicine cabinet instead of the "outie" one that looks like it's from a bad hotel and hung on a nail, and maybe do something about the poor lighting.
Here's another example, what's your first impression of this light fixture? Now, lol, it's definitely not for me, and pretty sure this isn't going to be most people's taste in chandeliers or lighting for a dining room or living room, however, someone liked it, right? My point is, again, all these "fixtures" add up.
At the same time, another big mistake for home owners to make in their home improvement efforts is installing cheap and poorly made fixtures. While some may not notice when touring the home, most people will. The time and cost involved to replace a leaky faucet more than covers installing a good quality brand to begin with. Avoid this future turn off and install good quality fixtures.
Also, be careful not to undertake expensive projects you might not be able to afford to finish too. Keep in mind, the bigger the project, the more potential for over-running the budget plans.
Let's say to remedy the home back to a universal or broader appeal you have to replace 6 light fixtures, the bathroom sink and faucet, the kitchen hardware and faucets, repaint it all vs. touch up on some good neutral colors.
These "remedies" I just mentioned are only the tip of the iceberg with mistakes home owners make that intend on increasing house value to net more from a future sale. I'll be covering more of these in part three later this week: Home Improvement 4 House Value; Mistakes Part Three: Outdoing the Jones's