The renos that won't recoup the outlay
Home upgrades come in different shapes and sizes. Converting an extra bedroom into a home office may be just as satisfying as installing motion sensor lights, but neither one adds significant value to your home. If you want to add real resale value to your home, don’t waste your money doing these.
Improving too much
One of the first resources realtors use to determine the value of your home is the neighbourhood you live in and the homes in it. “If you improve your home too much, in any area, you may price your home outside of the neighbourhood you live in,” warns Ryan Fitzgerald, owner/broker of Uphomes. A large or expensive remodel that doesn’t make sense in your neighbourhood won’t match up with the price per square metre with neighbouring homes. “You may find you’re priced well outside the neighbourhood price range,” says Fitzgerald.
Design and fixtures
A farmhouse style kitchen tricked out with fixtures, shiplap and subway tile may be your design dream come true, but if the rest of the house has gold fixtures and shag carpet, it’s a home upgrade that doesn’t add value. “If you go from modern brushed nickel fixtures in one room and then walk into a room full of gold fixtures, your home is going to feel inconsistent to the buyers. Keep your fixtures and designs consistent,” suggests Fitzgerald.