July 2023: What to Avoid When Remodeling Your Home

I’ve heard incredible things about Norton’s Pastrami & Deli, mainly from binge-watching Diners, Drive-Ins, and Dives, and as you know, I also happen to be completely obsessed with Hebrew National Hot Dogs. I went with the Norton’s Pastrami Dog, which has pastrami, sauerkraut, and swiss cheese (I also went with a salad on the side to keep things relatively healthy). But this was easily one of the top 3 hot dogs I have ever had in my life and would give this a 9.4 rating. Do not miss out on Norton’s when in LA! Hook and Press Donuts was another fantastic stop that I made. It was so hard to pick which donut to try because they all look so delicious, so I went with my gut and selected the Passionfruit Caramel donut which was just off the charts! What’s a trip to LA without stopping at Santa Barbara Cigar? I was able to relax and digest all of this amazing food while puffing on one of my favorite cigars. Let me tell you, I cannot wait to get back to LA!

Where should I go next?! Send me your recommendations!

In this week’s newsletter, we are going to discuss home improvements. But, what we are really going to talk about is how to be cautious with your home improvements in making sure that they do not decrease the value of your home. We have got 3 great points on what to do avoid when remodeling your home inspired by a Real Homes Article.

1. Do Not Turn a Bedroom into a Closet
2. Combining Bedrooms
3. Swimming Pools!

1. Do Not Turn a Bedroom into a Closet

Turning a bedroom into a closet sounds great right? More space for your clothes will open more space in the actual bedroom. Having a walk-in closet is one of the best things that anyone can have in their house, especially those with a lot of clothes and accessories that can potentially spill over to other parts of the house. But, beware! If buyers must choose, they will place more value on bedrooms than on a larger space to stores clothes and accessories. According to Tyler Forte of Felix Homes, a walk-in closet is a great feature, but not at the expense of an additional bedroom. “On average, each additional bedroom can add $10,000 to the value of a home.” On the other hand, if you are replacing a bedroom with a walk-in closet, Forte says you are decreasing the value of the home by $7,500 and that does not even include the close of materials and labor spent on the project!

2. Combining Bedrooms

One of the most popular renovations on a newly purchased home is combining two small bedrooms to create a larger bedroom. This sounds like a great idea, right? Well, it’s not and I am going to tell you exactly why. Older homes may be quaint and have a lot of architectural details, but they almost always have small bedrooms and bathrooms. To make an old house more “current”, combining two bedrooms into a larger one or creating a master suite at the expense of another will decrease the value of your home, explains Greg Kurzner.

When comparable homes have 4 bedrooms and you turn your 4 bedrooms into a 3-bedroom home, the house will be worth less after the improvement. Square footage is very important, but the number of bedrooms and bathrooms will also matter to homebuyers!

3. Swimming Pools!

Some buyers love swimming pools. They bring so much joy to the household, especially a home with children and there are not many things that are better than sitting poolside on a hot summer day. But, I want to explain why swimming pools may not increase the value of your home, and can oftentimes decrease the value. A lot of the time, it depends on what part of the country that you are in. In southern states, like Georgia, Florida, and Alabama, homes with pools are getting so many offers and a lot of that has to do with COVID because people have gotten used to staying home more which is making pools a premium. However, in colder climates, it’s just not the same. In the northeast, installing a pool can be a downside to many potential buyers due to the limited amount of time you can use a pool, and a lot of that also has to do with the upkeep. Even in warm climates, not every buyer will appreciate a swimming pool, and one of the main reasons I because it is not going to return a reasonable percentage of the cost of the improvement.

These are easy ways to make improvements to your home while not affecting its value. Remodeling and renovating your home can make your home more enjoyable, and if done right - increase your home’s value along the way. But not all renovations are created equal.

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