If you are a homeowner with a flair for flair, you might think you’re adding to your home’s value with every new eccentric choice. Flashy wallpaper with outlandish designs. Ornate lighting fixtures with funky bulbs. Shag carpet that harkens back to another era. After all, adding these fun little touch-ups and style choices will only add to the overall value of the house once it becomes time to put it on the market…right?
I’m a Real Estate Agent: 12 Costly Red Flags I Look for During a Home Inspection
Learn: 3 Things You Must Do When Your Savings Reach $50,000
Interior design choices play a significant role in the value of a home, even if it’s just a perceived value by the market. Big design choices inside your house could potentially draw in new buyers. They could also sour them from making an offer, which has the potential to start a chain reaction of lower offers than you’d like on your home.
Therefore, it is important to be as mindful as possible of design elements that may not align with the tastes and preferences of the general public. What you might find unique and charming, a broader audience will find unappealing. Personalization can make a house feel like a home, but striking a balance that allows buyers to envision their own style in the space is critical.
Before you go any further with home decor and interior design updates, take a step back and get some advice from someone who has been in the real estate game for a while. Michael Branson is the CEO of All Reverse Mortgage, with over 40 years of experience in the real estate industry. Branson shared some examples from his career of interior designs that didn’t add to the price of the home he was trying to sell, but instead, hurt the overall value. He also shares some tips for how you can upgrade your home with idiosyncrasies that won’t sink it on the market.
Here are four interior design choices that are likely hurting your home’s value, according to a real estate expert.
“While vibrant and unique wall colors might reflect your personal style, it’s essential to remember that not every potential buyer will share your taste,” said Branson.
“Wild or crazy-colored walls can often deter buyers as it might require them to invest additional time, effort, and money into repainting,” he explained. “A neon green or bright pink wall can also make it difficult for potential buyers to imagine themselves living in the space, thus reducing the appeal of your home. Therefore, if you’re planning to sell, consider neutralizing any bold color choices to create a versatile palette that can cater to a wider array of buyer preferences.”
I’m a Real Estate Agent: These Will Be the Best States To Buy Property in the Next 5 Years
“Another interior design choice that can negatively impact your home’s value is outdated fixtures and finishes,” shared Branson. “Old, worn-out light fixtures, faucets, and hardware can make a space feel dated and unappealing to potential buyers. These small details may seem insignificant, but they play a significant role in creating a cohesive and updated look for your home.”
He recommends that “if you’re planning to sell, consider updating these fixtures and finishes to give your home a more modern and appealing feel.”
“While it’s essential to showcase the potential of your home through furniture and decor, it’s equally important not to overdo it,” noted Branson. “Cluttered or overcrowded spaces can make a room feel smaller and more chaotic, making it seem unwelcoming and uninviting to potential buyers.”
“So, instead, opt for a minimalistic approach when staging your home,” he suggested. “Clear out any unnecessary furniture or decor pieces and create open, airy spaces that allow potential buyers to envision themselves living in the space comfortably.”
“Natural light is highly sought after in homes as it can make a space feel brighter, bigger, and more inviting. So, if your home lacks natural light, it can significantly impact its value and appeal to potential buyers,” Branson said.
“To make the most of the natural light in your home, consider removing heavy drapes or blinds and replacing them with lighter options that allow more light to filter through. You can also strategically place mirrors around the house to reflect natural light and create a brighter atmosphere,” he recommended.
More From GOBankingRates
Housing Market 2023: The 10 Most Overpriced Housing Markets in the US — 5 Are in Florida
How To Get Free Money: 13 Proven Ways
3 Things You Must Do When Your Savings Reach $50,000
How To Make a Savings Plan: 6 Steps You Can Take
This article originally appeared on GOBankingRates.com: I’m a Real Estate Agent: These 4 Interior Design Choices Are Hurting Your Home’s Value
A recent lawsuit verdict and pending cases could dismantle the traditional commission practice of sellers paying their own real estate agent and the buyer's.
Dubbed the Oracle of Omaha, Warren Buffett is renowned for his simple and frugal lifestyle. Despite being the sixth richest person globally, with a net worth estimated at $120 billion, Buffett continues to live in the same modest home in Omaha that he purchased in 1958 for just $31,500. Adjusted for inflation, that amount today would be approximately $328,990.80, a mere 0.000279% of his total net worth. Buffett has consistently ranked the purchase of his home as the third-best investment he has
Living on $2,000 per month is doable, but you won’t be able to live just anywhere. This is important because at the time of writing the average Social Security benefit paid is $1,701 per month. With a small retirement portfolio, you can relatively easily add a few hundred dollars to that amount, bringing your household […] The post Where Can I Retire on $2,000 a Month? appeared first on SmartReads by SmartAsset.
Property deeds are not just pieces of paper – they hold the power to impact your fiscal situation considerably. Property deeds are legal documents that provide proof of ownership. When you extend ownership rights by adding someone to your property deed, there are tax implications and potential risks associated with the transaction. A financial advisor […] The post What Are the Tax Consequences of Being Added to a Deed? appeared first on SmartReads by SmartAsset.
Seventeen states and the District of Columbia have estate or inheritance taxes or both. The rules can change from year to year.
While 8% mortgage rates mean potential buyers are squeezed, the last decade saw a surge in people who own their homes outright.
Tom Barkin, president of the Federal Reserve Bank of Richmond, sees math that doesn't add up for too many—and he thinks "NIMBYism is real."
Authorities have set aside billions of dollars to help developers complete and deliver apartments that were already sold, but the logjam is growing.
After a grantor passes away, becoming the trustee can be daunting, especially if you're responsible for distributing property. Houses are among the most valuable assets in a family for financial and sentimental reasons. Therefore, it's critical to understand how to … Continue reading → The post How to Transfer Property Out of a Trust After Death appeared first on SmartAsset Blog.
Mortgage rates have soared north of 7% in recent months, driven higher by the Federal Reserve's war on inflation.
“For those homebuyers who can wait, the spring will bring more new listings and lower mortgage rates," Bright MLS chief economist Lisa Sturtevant said.
U.S. renter households remained burdened in the third quarter of 2023, according to a report from Moody's Analytics that found 30% of renters' gross income was spent on rent.
Despite the elevated supply of new units, high homeownership costs and tech-enabled features are likely to draw healthy rental demand, poising the Zacks Equity REIT – Residential industry players like Invitation Home (INVH), American Homes 4 Rent (AMH) and UMH Properties (UMH) well for growth.
U.S. single-family homebuilding increased marginally in October and activity could remain moderate in the near term amid higher mortgage rates, which sent homebuilder confidence tumbling to an 11-month low in November. "Homebuilders have an opportunity to capitalize on the low supply of homes on the market," said Jeffrey Roach, chief economist at LPL Financial in Charlotte, North Carolina. "If mortgage rates move lower in the latter half of next year, we could see some improved demand for residential real estate."
An affiliate of Garden Communities has secured $49.5 million of takeout construction financing for a newly built multifamily asset in northern New Jersey, Commercial Observer has learned. Nationwide supplied the 10-year fixed-rate loan on the sponsor’s 177-unit Walnut Hill development in Clark, N.J. JLL (JLL) arranged the transaction with a capital markets debt advisory team led by Evan Pariser, Matthew Pizzolato and Jackie Ferrer.
Warren Buffett is known for holding onto his S&P 500 stocks forever. But that definitely wasn't the case recently.
The allure of sunshine, low taxes and low housing prices have been attracting people to Florida for decades, but high insurance premiums are beginning to reverse the trend. The U.S. Census Bureau shows that nearly 276,000 people left Florida in 2022, and it's believed that skyrocketing insurance premiums motivated many of the departures. The study showed most of the former Florida residents remained in the sun belt, moving to states like North Carolina, Georgia, Tennessee and Texas. Those states
Using the Nasdaq 100 via QQQ stock as a way to invest directly in market strength, the current rally is showing some differences from the fake outs of the last couple of months. The Invesco QQQ Trust offers a way to play tech strength by matching the Nasdaq 100 index. One of the notable features of the November setup in QQQ stock is that it had a three-waves down pattern immediately precede it.
Stock-market valuations, by one measure, have hit levels surpassed only a few times in the past, including the Great Depression and the dot-com bubble.
The biggest wind turbines are larger than the Empire State Building. They're getting bigger every year because longer blades grab more wind and create more power compared to the increased material costs. Massive turbines typically lower the cost of wind farms because they require fewer turbines to create the desired capacity. But giant turbines are expensive and raise aesthetic concerns as they can dominate skylines. A startup company backed by business magnate Bill Gates aims to change both the
I’m a Real Estate Agent: These 4 Interior Design Choices Are Hurting Your Home’s Value – Yahoo Finance
(Visited 1 times, 1 visits today)
