Sellers Beware – Worst Upgrades

Posted: November 23, 2010 in Buyers, Mortgages, Sellers
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Don’t waste  your time or  your money on renovations that will not bring you a return on your investment. Here’s the countdown to the ten worst upgrades to do in an effort to sell your home.

#10Wall-to-wall broadloom

Once considered a selling feature, this is now a liability in many buyers’ eyes. Broadloom is incompatible with pets and people with allergies, and is perceived as hard to clean. If you have hardwood floors, have them refinished or consider installing them if you don’t.

#9 -Whirlpool baths, saunas and indoor hot tubs

Once considered chic, these are now often seen as just expensive, energy-guzzling extras. A hot tub installed in the living room or front porch will most likely be a turn off to potential buyers!

#8 -Expensive built-in sound systems and home theatres

Some buyers will be attracted to this, but not everyone is an audio/cinephile, nor will they pay a premium for a house with this feature.

#7 -Colourful bath fixtures

These went out with poodle skirts. Chances are the buyer will just see them as a renovation to-do and will plan to get rid of them after the purchase.

#6 -Ornate chandeliers, wallpaper and paint treatments

Taste is very individual and idiosyncratic decorating can turn buyers off; stick with neutral, simple decor.

#5 -Odd rooms and walls

A wall bisecting a large bedroom into two unusably small ones or a cramped powder room under the stairs or in a closet … many buyers will see these as merely a future renovation expense. (Same goes for inexplicably missing walls, such as a bathroom that is open to the adjacent bedroom.)

#4 -Overly fancy appliances

Stainless steel-finish appliances are worth paying a few more dollars for (compared to equivalent white or colour models), but six-burner professional stoves, double dishwashers and a fridge big enough for a restaurant rarely recoup their initial cost.

#3 -Cheap laminate or vinyl tile flooring

Some types of laminate are attractive and practical; others just look cheap and fake. Especially avoid peel-and-stick vinyl tiles or be prepared to replace them when you put the house on the market. For not much more money, choose hardwood, stone, bamboo or cord. There are also some new high end resilient flooring which have the look of tiles but offer warmth, durability and ease of  maintenance especially with small children. 

#2 -Swimming pool

There is some debate about this among realtors; to some buyers, a swimming pool is a selling feature. But a pool rarely recoups its entire cost, and it will reduce the number of potential buyers interested in your home.

#1 -Turning a three-bedroom into a two-bedroom home

Even if that third bedroom is miniscule, it’s still a bedroom. No matter how spacious your newly enlarged master bedroom or how luxurious that new spa bath, the demand for two-bedroom homes is significantly smaller than for three-bedrooms, and they command considerably lower prices.

If you are looking to sell, buy or mortgage a home then give me a call at 519-241-1122. Dale Dyer, Broker.


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