Do you consider converting your home garage into a man cave? Before you permanently ditch parking and storage space in exchange for testosterone-friendly vacation, you may want to consider this: the garage man cave projects you can hurt the value of your home and make it more difficult to sell.
Turning your garage into living space is one of four home improvement projects highlighted by MarketWatch that could end up sucking the value of your home.
Homeowners should think carefully before they get rid of their garage and turn it into a caveman, a family room or extra bedroom, because they can make their homes less attractive to many people, the New York real estate agent Brendon DeSimone, author of “Next Generation Real Estate, “says MarketWatch.
A recent survey by real estate investment and operating company Crescent Communities found that 74 percent of home buyers say have a garage very or extremely important. If you still want to continue your garage projects, consider leaving the garage door on the outside so if you sell your home, buyers have the option to easily change the room back to the garage, Michele Silverman Bedell, of New York- based Silversons Realty, told MarketWatch.
Here are three other home remodeling projects that can decrease the value of your home:
1. Removing one bedroom to make another room (or space) bigger: Reduce the number of bedrooms in your home is a big no-no from the point of view of real estate. “When you start to eliminate the bedroom, you’ve actually changed the value of comparable homes in your neighborhood,” David Pekel, president of Pekel Construction and Renovation, in Milwaukee, Wisconsin, told MarketWatch. By reducing the number of bedrooms in your home, you also reduce the number of potential home buyers who would be interested in your house, even though how big the bedroom or living room is another.
2. Removing the closet: People want, and are usually necessary, closet. Bedell said she has clients who removed the closet of the master bedroom and build a large main bathroom in the room. Result? The house was much more difficult to sell.
3. Wallpaper: Sure, wallpaper can really spruce up the room, but many people do not like it. Plus it can be difficult to delete. I can prove it. Each of the rooms in my house had wallpaper circa 1979 – think orange and avocado green flowers, trees and flocked silver geometric pattern of brown and gold. My husband and I made the mistake of thinking it will be easy to remove. Every room we worked on the horrible and time-consuming, and I will never buy another house with wallpaper. Bedell said excessive wallpaper or other finish can prevent potential home buyers and hurt resale value of your home.
Of course, you do not have to shy away from home renovation project you really want just because it could hurt the value of your home if you sell it. It’s just something to be aware. If you decide to move forward with a home improvement project could potentially devalue houses, DeSimone recommend that you “do it in a way that you can put it back when you go to sell.”