Home renovations can be a thrilling way to give your space a fresh new look, but beware of the trends that are already on their way out.
The once-trendy open-concept kitchen, for instance, has been shown to decrease property value by up to 10% in some areas.
Aesthetically, the look of a completely open kitchen can feel cold and impersonal, making it harder to sell your home in the future.
Some homeowners have found that incorporating partial walls or room dividers can help create a more inviting atmosphere without sacrificing functionality.
For more insights, see: Kitchen Renovation Home Depot
Home Renovation Mistakes
Home renovation mistakes can be costly, both financially and in terms of resale value. Some homeowners may think they're upgrading their space, but they're actually decreasing its value.
A home renovation that can decrease its value is installing a swimming pool. Homeowners and real estate agents warn that a pool can be a major turn-off for potential buyers, especially families with young children.
In fact, some renovations are so off-putting that they can decrease a home's value by as much as 10%. This includes installing a home gym or a dedicated home theater. These features are often seen as niche and may not appeal to a wide range of buyers.
Homeowners who install a home office or a hobby room may also be making a mistake. These types of rooms can be seen as non-traditional and may not fit with a potential buyer's vision for the space.
A poorly designed or executed renovation can also decrease a home's value. This includes renovations that are overdone or overly elaborate, such as a kitchen with too many high-end appliances.
Home Renovation Trends
Home renovation trends can be a bit of a gamble, as some styles are more likely to go out of favor quickly.
Some trends that are already showing their age include outdated home design elements like large decorative mirrors and overly ornate ceiling treatments.
You might have seen these elements in old homes, but they're now considered so yesterday.
Consider reading: Home Renovation Trends 2024
Home Trends
Using excessive mirrors in interior design can make a room look disorienting and outdated. This is because an entire wall covered in mirrors can overwhelm the space and undermine its overall style.
Going overboard with extravagant finishes and high-end fixtures in bathrooms and kitchens can actually reduce your home's value. Not all buyers may be willing to pay a premium for lavish features, and trends can quickly become outdated.
Removing or dramatically altering bathrooms, such as eliminating a full bathroom to create a larger suite, can be risky. The number of bathrooms in a house is a significant factor for potential buyers, and reducing this number may negatively impact the home's value.
Opting for a balance between style and functionality is key to ensuring that your home renovations contribute to your home's value rather than hinder it.
If this caught your attention, see: Craftsman Style Home Renovation
Wallpaper Everywhere
Using too much wallpaper can be a major turn-off for potential buyers. Bold or outdated designs can clash with their personal style and design preferences.
Removing wallpaper can be a lengthy and expensive process, which may deter buyers who are looking for a move-in ready home.
Customized Designs
Customized designs can make a house feel like home, but it's essential to strike a balance that appeals to many potential buyers.
Over-the-top designs can significantly limit the market appeal of your home, no matter how much you put into them. This is because unique design choices, such as bold colors, intricate wallpapers, or unconventional fixtures, may deter potential buyers who prefer a more neutral palette.
Personalization is key, but it's crucial to consider the broader market and potential resale value in your neighborhood when undertaking any renovation projects.
Returns by Region
The Pacific region has the highest average cost-value ratio in the country, at 71.3 percent, making it a great place to invest in home renovations.
Mid-Atlantic states averaged a return of 56.6 percent, which is still a decent investment, but not as high as the Pacific region.
East North Central states, which include Illinois, Indiana, Michigan, Ohio, and Wisconsin, recouped an average of 55.3 percent, a relatively good return.
West North Central states, on the other hand, saw the least amount of return, with 49.5 percent, making them a less attractive option for home renovations.
It's worth noting that the Pacific region's high cost-value ratio is largely due to the high values at resale, making it a great place to invest in home renovations.
Whether you're in the Pacific region or elsewhere, it's essential to consider the potential return on investment before embarking on a home renovation project.
Overdone Bathrooms and Kitchens
Overdone bathrooms and kitchens can actually reduce your home's value. Homeowners and real estate agents agree that going overboard with extravagant finishes, high-end fixtures, and excessive customization can be a turn-off for potential buyers.
Not all buyers may be willing to pay a premium for lavish features, and trends can quickly become outdated. This means that investing in trendy or overly customized spaces may not yield the expected return on investment.
Bathrooms are essential and highly valued spaces in any home, with the number of bathrooms being a significant factor for potential buyers. Removing or dramatically altering bathrooms, such as eliminating a full bathroom to create a larger suite, can be risky.
A balance between style and functionality is key to ensuring that your renovations contribute to your home's value rather than hinder it. Consider timeless design elements and the preferences of potential buyers in your market.
Home Renovation Problems
Home renovation problems can be a nightmare, especially if you're not prepared. Being a homeowner usually means owning your dream home, but what if your dream home has a few problems that need fixing?
Black mold, termite activity, rotting studs, and joists or foundation issues are just a few of the unpleasant surprises that can be hiding under floors and walls. These problems can worsen over time if not addressed.
Gutting and renovating a house often reveals these hidden problems, and the best way to handle them is through discovery and repair.
Homeowner Nightmares: Top 10 Problems Exposed
Being a homeowner usually means owning your dream home, but what if your dream home has a few problems that need fixing? Homeowners often underestimate the costs of hidden problems under floors and walls, which can lead to a gut renovation.
Gutting and renovating a house often reveals unpleasant surprises, like black mold, termite activity, rotting studs, and joists or foundation issues. These issues can be costly and time-consuming to fix.
A gut renovation can be a costly and time-consuming process, with costs ranging from 10 to 15 percent above the estimated budget for non-gut remodels, and more than 15% for a gut remodel. Homeowners should build in an extra cash reserve for unexpected issues that may arise.
Most contractors aim to bring the project in at or near the estimated cost, but homeowners should still expect some unexpected expenses. A solid design plan must be in place before the first piece of drywall or plaster is removed from the home.
On a similar theme: Home Renovation Costs
Working with an architect or designer requires sufficient lead time for the design team to do their work. The majority of the design team's work occurs before any physical remodel work begins. Homeowners should ensure there is enough time for the design team to complete their work before starting the renovation.
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Neighbors and the Neighborhood
Informing your neighbors about upcoming work is crucial to maintaining a positive relationship with them. This can be done before the project begins, and it's a good idea to speak to your contractor about how they handle noise ordinances or illegal parking.
A trash dumpster on the street or multiple tradesmen vans parked by your home can be a dead giveaway that major work is happening. This can draw attention from your neighbors, so it's best to prepare them in advance.
Gut home renovations, especially those involving the entire house, can be noticed by neighbors. This is why it's essential to take the time to inform them of the upcoming work and potential disruptions.
The right contractor will be a partner in guiding you during this renovation process, and they can help you navigate any issues that may arise with your neighbors.
Renovation Costs and Time
Homeowners undertaking major gut remodels should build in an extra cash reserve for unexpected issues that may arise. Add in an additional 10 to 15 percent above the expected budget for a non-gut remodel, and more than 15% for a gut remodel.
Effective communication with your contractor is key to keeping the project on track. Homeowners should feel comfortable asking questions and raising concerns, while also providing timely responses to the contractor’s inquiries. This will help prevent misunderstandings and ensure the project stays on schedule.
A solid design plan must be in place before the first piece of drywall or plaster is removed from the home. This means working with an architect or designer and allowing sufficient lead time for their work.
Here's an interesting read: Home Gut Renovation Cost
Gut Renovation Costs
Most contractors aim to bring a gut renovation project in at or near the estimated cost.
Homeowners should build in an extra cash reserve for unexpected issues that may arise.
For non-gut remodels, add an additional 10 to 15 percent above the expected budget.
For gut remodels, add more than 15% to the expected budget to account for potential issues.
Related reading: Home Renovation Spreadsheet
Timing & Scheduling
Timing & Scheduling is crucial to a successful renovation project. Homeowners and contractors often have similar goals, wanting to move the project along efficiently. Effective communication is key, so ask questions and raise concerns, and provide timely responses to the contractor's inquiries.
Maintaining open and honest communication will help keep the project on track. No reputable contractor will undertake tasks that you haven't authorized and signed off on. Homeowners should feel comfortable asking questions and raising concerns.
Developing a timeline for the project before starting work is essential. The goal should be to stick to that schedule as much as possible. Building and renovation schedules always have some flexibility, but it's crucial to stay on track.
Working with an architect or designer requires extra time for their lead-in work. A solid design plan must be in place before any physical remodel work begins, usually before the first piece of drywall or plaster is removed. This ensures a smooth and efficient renovation process.
Frequently Asked Questions
What do I wish I knew before remodeling my kitchen?
Before remodeling your kitchen, prioritize functionality and cabinetry to ensure a practical and efficient space. Consider hiring a professional to guide you through the process and save time and money in the long run
Sources
- Reddit (reddit.com)
- Share on Flipboard (flipboard.com)
- Share on Facebook (facebook.com)
- 10 Renovations That Will Hurt Your Home's Value (planner5d.com)
- home value (zillow.com)
- home’s architectural style (zillow.com)
- Remodeling Cost vs. Value report (hw.net)
- kitchen remodel (zillow.com)
- National Association of Home Builders (nahb.org)
- carpeted floors and vinyl and ceramic flooring (zillow.com)
- Gut Renovations Challenges: Prep for a Smoother Remodel (sweeten.com)
- Beware! The Top Property Renovation Mistakes you ... (touchstoneeducation.com)
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