Published April 7, 2016
Fairbanks and Anchorage AK Home Projects That Do Not Pay Off At Resale
Posted by Wes Madden on Thursday, April 7, 2016 at 1:40 PM Comment
In a previous blog post, I introduced you to how you can renovate your home in Alaska while increasing your property value. Projects like remodeling your kitchen and bathrooms, redecorating and boosting outdoor appeal are all excellent ways to ensure you have a favorable turn-out when the time comes to sell, but it's also important to keep in mind those that can do the opposite.
If you have home projects on the horizon this year, you will want to steer clear of the following three that can hurt your property value in Fairbanks, Anchorage, Eagle River, Palmer, Wasilla and the surrounding areas:
Removing bedroom space
Maybe you'd like to expand your closet, create a recreational space or even make room for a master suite— but just remember, once you've decreased the number of bedrooms in your home, you've changed your value and how it stacks up to other properties. No matter how much living space you have, how large the other bedrooms are or the total amount of acres, decreasing the number of bedrooms in your Alaskan home also decreases the amount of potential buyers who may have been interested in the property.
Removing closets or storage space
Homebuyers in the real estate market today are looking for and need additional storage space. In fact, many of the buyers who are taking the market by storm this spring are first-timers who are making the transition from renting to homeownership for the storage reason alone! If your home projects involve removing closet space to create room for something else, you may want to think again! You may find your home in Fairbanks, Anchorage, Eagle River, Palmer, or Wasilla is more difficult to sell with less closet space.
Installing wallpaper
Giving your home a fresh look with new paint is always a great idea, but wallpaper may not be in your best interest if you're thinking of selling later. Wallpaper can be very difficult and tedious to remove and as a result, many Alaskan homebuyers do not like it or want to see it in a potential home. What you may see as an updated room, buyers may see as a homeowner headache should they choose to purchase the property.
And while these projects may not do any favors to your home's value, you should not avoid a specific renovation that you have dreamed of simply because of future homebuyers. A great rule of thumb for Alaskan homeowners is to move forward with their desired updates, but do so in a way that can either be put back or easily removed when you are ready to list the home.
Questions about selling your home in Anchorage, Fairbanks, Palmer, Wasilla, Eagle River or North Pole? Madden Real Estate is here to help! We even have a Guaranteed Sales Program in place to give you peace of mind! We are confident that we have the staff, tools and resources to sell your home and if we don't, we'll buy it!
Contact us today!
Wes Madden, CEO
Madden Real Estate
(907) 452-3000
Wes@WesMadden.com
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