Between trying to save money and customizing a home to an exact lifestyle, homeowners can make some big mistakes. Whether they decrease resale value, go way over budget, or increase maintenance costs, some renovations are better left undone. These are the projects homeowners most commonly say they regret.
Making a bedroom into a closet: Converting a bedroom into a walk-in closet will make your Realtor cringe. Removing a bedroom usually decreases a property’s value up to 15%. Second, installing shelves typically costs between $1,000 and $2,600. Instead of going this route, consider maximizing the storage space you already have. Use pre-built racks and closet organizers to take advantage of your existing space.
Springing for an expensive bathroom remodel: High-end finishes like time-consuming tile patterns, costly tubs and showers, and luxury faucets or fixtures can end up breaking your budget and falling short of your anticipated return on investment. Getting rid of the rust and laminate and adding efficient features is great. Just don’t go overboard. Set a budget in advance. A general guideline is to spend no more than 10% of the home’s value on a bathroom remodel.
Adding a sunroom: According to Remodeling magazine, sunrooms typically yield returns less than half of your initial investment. The average sunroom costs over $16,000. Unless you’re adding much-needed livable square footage to a small floor plan, building and furnishing a sunroom can drain your bank account and create less enjoyment than you hope.