I was reading an article from GoBankingRates.com that popped up in my Bing! newsfeed yesterday talking about renovations homeowners "always" regret. While I agree with some, I'd also argue there's a few on that list that helped my clients add value to their homes, specifically, converting a garage into a living space.
I had a client who didn't have a basement, and with several children, the 2200 square foot home started to feel small. Instead of paying more than $100,000 to build out a basement (lift the house with the potential to crack the foundation, causing more challenges), they epoxied the floor, put nice area rugs in, had an electrician install more outlets and installed a hanging heater that temperature controlled the garage with a single click of a remote.
As part of this, they created distinct spaces using Ikea's storage bins for all the kids toys in one "quad" of the space, a treadmill and tv from Abt, a refrigerator from The Home Depot, and best of all, mosquito netting that connected using magnets for both the front garage doors and back to keep the bugs at bay. The client said there was nothing better than watching a rainstorm from the comfort of their garage without being in a basement.
The best part, they kept one side of the garage maneuverable - meaning, if they had to move a car in due to a storm, they could roll out a rug to keep the floor clean and park right on top of it.
To me, it was brilliant.
When they made the decision to sell, more than half the kid's toys were already in the garage and moved easily into a POD unit, and given all the organization of the tools, outdoor refrigerator, tv, and mosquito netting - it was a dream come true for any garage lover. Most want a nice garage - which is what buyers can purchase.
Bottom line - accommodate your needs and think if there's an opportunity for a versatile renovation that could be appealing if it were not originally intended for that use.
Here's the list of five expensive renovations that homeowners always regret according to GoBankingRates.com:
- Creating a game room
- Tara Spaulding, an interior design coordinator and a consultant for Patio Productions said, “I would advise someone to consider a siding replacement [instead]." “The siding of a home is among the most noticeable things, and it needs to remain sturdy and attractive. Replacing siding can cost $4,500 to $15,000 depending on the materials and has a higher return on investment should you consider selling. Its ROI is at 60% or higher.”
- Converting a garage into a living space
- In my professional opinion, how you convert a garage into a living space is key. If you want to turn it into a guest bedroom I may advise differently - make it versatile.
- Adding a Spa Tub
- I'm going to switch this to, "adding a hot tub." I'm a big believer in spa tubs, although they may not be the most affordable, if you're looking to relax, a spa tub is a big benefit to a homebuyer who enjoys their bubble baths.
- Replacing the bathtub with a shower
- All I have to say here - never remove a bathtub. Never. This is 100% based on personal preference, but to the article's point, it's an expensive endeavor to do so.
Using overly elaborate crown molding
- I'm indifferent to this one. I believe it's more of the choice of the buyer as to what they're looking for when it comes to the character of the home they're wishing to purchase. I personally like elborate crown molding, arched doorways - a more differentiated look than some of today's homes. Crown molding can give a home depth and personality - which could be a good or a bad thing, as with any update to a home.
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In good health,
Daniel Henry, Realtor
AH Heritage Home Group of Coldwell Banker