Renovating your home can oftentimes provide you with more of what you need, such as additional space for a growing family, a much needed home office, or a brand new living area for the family to enjoy.
But, before you sign on the dotted line with a home renovating contractor, there are some factors to consider. That’s because there are some types of home remodeling that can actually decrease its value, in turn, bringing in less when you do eventually go to put it on the market.
Reducing the Number of Bedrooms
One of the top renovations that could lower the value of your home is reducing the number of bedrooms. While you may now be an empty-nester – and would love to make the size of your remaining bedrooms larger – the reality is that many home buyers will not look at two- or even three- bedroom homes. So, by going this route, you will likely end up minimizing the size of the potential purchasers down the road.
Converting the Garage into Additional Living Space
Conversely, you may be considering taking your current garage and turning it into another bedroom, an office space, or a large living or family room in order to provide you with additional living space.
But, while the importance of having a garage will often differ from one location to another, surveys have shown that the majority of home buyers state that having a garage is important to them. So here, too, while moving forward with this type of renovation could solve your shorter-term needs, it could also mean that you’ll be lessening the number of people who are interested in purchasing the home in the future.
If you’re in need of larger or smaller space, we can help. We will work with you in finding that ideal new space to call home – even if it’s still in your current location. So, give us a call today.