As a new homeowner, you’re anxious to get in and make your space your own, as it should be! You might start with something simple, home improvements like painting the walls or replacing light fixtures. 

Or, you may start by knocking down walls to help open up the space. But, whatever your desire, we urge you to take a step back (put down the hammer for a minute) and evaluate your long-term plans in this new home. 

 

Are really necessary these home improvements?

When you’re planning an improvement or remodeling project, you first have to ask yourself a simple question:

“Are you remodeling for quality of life while you live there, or to increase the home’s value or resale price?”

If it’s the latter, these projects — and really most projects except for a very small list — offer too little return on investment to view as a resale value booster. They will result in a net loss from a purely financial perspective.

On the other hand, if you don’t plan to sell for a long time and a project will help you enjoy your home more during those years, there’s nothing wrong with that. Just pencil in the cost to redo that project and make your house more saleable into the budget for the work.

Below we’ve listed the 5 worst home improvements for sellers (or enhancements you should make with caution). Make sure you understand what will bring value to your home and what will eat up your money with little or no return. 

 

1. Structural Changes

Any time you are making any significant structural changes to a home, in most cases, you will have to get a permit from the city if you are within city limits. Depending on the type of home improvements you have in mind, you may have to hire an engineer, architect, and contractor to help you plan your space. 

In today’s market, not only is it difficult to find contractors, but most of the time, they are busy for many months. Therefore, you will need to make sure you are flexible to meet your time requirements. 

It is not uncommon to go over your initial budget when starting a project. However, keep in mind that the cost of materials has also gone up in the last year due to COVID and the war between Russia and Ukraine.  

 

2. Home offices

Building a home office, or dedicating an entire room to be an office, does little for home values. Instead, it just eats up space that a buyer might want to use as something else. 

We advise you to continue to use your space as an office but refrain from putting extensive built-ins in the wall that eat into the room’s overall size or doing anything that might make the space unusable as a bedroom in the future. 

If you decide to include any organizational storage, make sure there is enough room for a double bed, dresser, and two nightstands. We do not recommend removing any closets, as that would disqualify the room from being able to call it a legal bedroom in the future. 

 

3. Kitchen Appliances

When you start renovating your kitchen, you will quickly realize a wide range of appliances with even more comprehensive prices. Unfortunately, one mistake many make when remodeling a kitchen is buying “high-end” devices that do little for the return value of your home. 

If your budget for your kitchen is only $10,000 (to make the math easy) and you decide to invest $5,000 in your appliances, you’ve already cut half of your budget, and you may only see half of that in return. We encourage you to spend money on a kitchen remodel, but we advise you to consider the price and layout. 

Our biggest recommendation on kitchen appliances is to be innovative. You don’t need a kitchen built to serve a small restaurant in a single-family home. Know your budget and stick to it. 

 

4. Professional Painter

Professional painters are worth the money if you paint your walls a neutral color. However, suppose you decide to make a space more suited to your taste (bright colors, crazy wallpaper, cow murals). In that case, we strongly encourage you to do it yourself or call a friend who has experience. 

You probably won’t see a return on this investment, as many homebuyers may be offended or put off by really bright colors in a space. So instead, use the money to hire a professional before listing your home for sale. Then, return your walls to the glorious white or gray they once were. 

 

5. Know your neighborhood

One of our agents said it ideally, “You don’t want to be the most expensive house in your neighborhood,” you’ll never see that return. So if the value in your particular area has not reached the investment you will make in your home, don’t make it. If you don’t know the value in your neighborhood, be sure to contact your local realtor. 

They can help you determine what makes the most sense for you and what you are trying to achieve. They can guide you in the right direction and put you on the right path. 

Make sure you have a trusted and experienced real estate agent to guide you when that time comes. Unfortunately, with the craziness of today’s real estate market in New Jersey, you can’t afford to have the best New Jersey real estate experts on your side.

 

The company you are looking for in New Jersey for your home

If you are interested in acquiring your new home or selling the one you already have, do not hesitate to contact our EXP Realty consultants. We guarantee quality attention and the best homes in the area, with personalized marketing strategies to achieve the most significant benefit.

You will not regret working with us because we seek your best interests. Our clients certify them.