After finally saving up enough money to use as a down payment, I decided that it was time to hit the market. I met with a lender, got pre-approved for a loan, and then started visiting different properties. However, I quickly realized that I didn't know as much about real estate as I would have hoped. I wanted to find a great neighborhood and know what to ask the professionals, but I could tell that I needed a little help. To point me in the right direction, I started working with a great real estate agent who was familiar with the area. This blog is all about educating the general public on real estate matters.
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As you get ready to sell your home, you may be thinking of improvements that will make it more appealing to potential buyers. While renovating a kitchen or a bathroom can easily give your home a more modern feel, there are some improvements that could cause you to lose money in the end. If you want to see a return on your investment, avoid doing any of these 3 home improvement projects.
Installing An Underground Swimming Pool
You may mistakenly assume that a swimming pool will actually increase your home's value. If you can add one to your home, you can work that cost into the price of the house.
A pool may add a bit of luxury to a home, but it could be very expensive. When you factor in excavation and the cost of the pool itself, it could end up being between $14,961-$21,649 on average. In addition, buyers understand that a pool is expensive to perform upkeep on and could see the pool as a detriment to your home. They don't envision the fun they will have swimming in the pool, but the hours and money spent on cleaning and maintaining it.
Converting A Room Into Something That's Not Practical
Don't make the mistake of altering the rooms in your house in such a way that a buyer will find it off-putting. For example, If you only have 3 bedrooms in your home, don't convert two of the bedrooms into a huge master bedroom. Chances are that it will be unappealing to a buyer that wants to have a minimum of 3 bedrooms, no matter what their sizes are.
On the flip side, another mistake is converting an attached garage into a living space. You may be able to advertise that you now have an extra living room or another bedroom, but it will be obvious to the buyer that an attached garage was lost in the process.
Painting A Room With Unconventional Colors
It's normal to want to apply a coat of fresh paint to a room that needs it, but stick to using neutral colors. Anything that is bold and bright can be off-putting, making it difficult for a buyer to envision themselves in the space. Instead, they will just be focused on the odd color choice and not think about buying the home.
For additional tips on home improvement projects to avoid doing, work with your real estate agent.
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