Home Renovations: Avoiding Costly Regrets
When it comes to home renovations, it’s important to make informed decisions to avoid costly regrets down the line. Game rooms and garage conversions may seem like appealing additions to a home, but they often lead to limited use and lower home value increase. According to Tara Spaulding, having a purpose-built space like a game room is not always the best move. While a game room can cost around $4,500 to build, it does not usually significantly increase the home’s value. Real estate experts from Patio Productions advise that homeowners should consider updates with a higher return on investment, such as updating paint, flooring, or adding new landscaping.
Similarly, converting a garage into a living space can cost around $30,000, but it often results in an awkward final floor plan and can negatively impact curb appeal. Bill Samuel from Real Estate Skills highlights that most buyers don’t value this type of renovation. Therefore, homeowners should carefully consider the potential drawbacks before embarking on such a project.
Moreover, luxurious spa tubs are another common renovation that homeowners tend to regret. These tubs can cost between $200 and $15,000, taking up a lot of space and being difficult to keep clean. Matt Bigach from We Buy Houses For Cash states that homeowners usually regret getting a spa tub installed in their bathroom. Instead of opting for expensive spa tubs, homeowners can consider smaller, more practical home improvements that bring value and functionality to their homes, as suggested by the experts from We Buy Houses In Denver.
In addition, replacing the bathtub with a shower is another renovation that can lead to regrets. The cost to remove a bathtub can range from $200 to $1,000, while the cost to install a shower varies between $7,000 and $12,000, according to Fixr.com. Homeowners should carefully weigh the pros and cons of this renovation, as highlighted by Charlotte Granville. She emphasizes that combining a bathtub with a shower can prevent regrets and offer the best of both options.
Furthermore, overly elaborate crown molding can be an expensive mistake due to installation costs and design compatibility. Shaun Martin from We Buy Houses In Denver notes that overly elaborate crown molding can be difficult and expensive to install, often taking longer than anticipated due to its complexity. Therefore, homeowners should opt for smaller, more practical home improvements that bring value and functionality to their homes, rather than investing in elaborate crown molding that may not align with future buyers’ preferences.
In conclusion, making informed decisions about home renovations is crucial to avoid costly regrets. Homeowners should carefully consider the potential drawbacks and long-term implications of renovations such as game rooms, garage conversions, spa tubs, bathtub replacements, and elaborate crown molding. By opting for smaller, more practical home improvements, homeowners can enhance the functionality and value of their homes without the risk of future regrets.
The information provided is for general informational purposes only and should not be considered as financial advice.