To avoid this scenario, you must debunk and dismantle the most popular fibs. Here are four common renovation myths for your information. Hopefully, these will transform the way you view home improvements.
#1: Swimming Pools Are Bad Investments
Swimming pools are viewed as poor investments because they are expensive and don’t command that much money from buyers. Maybe that is true for some pools, but you should be wary of generalising across the board. Whereas an outdoor feature may not make sense in the UK in the winter, Kinniburgh Pools Designers points out that a Jacuzzi or steam room does.
There’s no better way to warm up than to take a steam or sit in a hot tub. So, you may want to rethink your policy if you’ve boo-booed a pool in the past.
#2: Expensive Materials Add Value
This is a tough one because it is worth using quality materials, and they tend to be costlier. Buyers want a wow factor, with lots of them willing to pay top dollar. But, you’ve got to consider the market. Your home is only worth what a bidder is willing to pay, and if they think it’s too expensive, the listing will struggle to sell.
So it’s sometimes savvier to use materials with a mid-range price, especially if they’re glossy and shiny. That way, they’ll stand out without costing a fortune.
#3: Homely = Equity
Another of the most common renovation myths regarding the value of your home is how the interiors impact the price. Most homeowners go for a homely feel as it makes the property appear comfortable and cosy. Of course, there is no way to tell what the interested party(s) want from the sale.
They could, for example, desire a fixer-upper that they can flip for a significant ROI. Or, they may hate your style and want a bare house that they can turn into their home. As a result, it’s worth reigning it in a bit on the home decor front.
#4: Going Green Isn’t Worth It
Sure, it helps the environment and reduces energy rates, yet it takes a while before you see a pure profit. Although this can be true, it depends on how you invest in renewable energy. Solar panels have historically been supplemented by the government to encourage homeowners to buy them.
If you can still find a good deal, then, your panels will turn a profit quicker than you assume. Even without a grant, Money Saving Experts says that you can save up to £250 a year on bills and maintain the freedom to switch energy suppliers.
Is there anything on this list that you thought was true?
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