CPL Aluminum Railings & Glass Weighs in on Home Renovations Believed to Harm Resale Value
Woodbridge, Canada, May 9, 2016 – CPL Aluminum Railings & Glass (www.CPLRailings.ca), a Canadian manufacturer of aluminum and glass railings for both luxury and general home properties, is weighing in on home renovations believed to harm the property’s resale value.
In their new book, Jonathan and Drew Scott of the HGTV show Property Brothers reveal some types of renovations that actually lower the resale value of homes. While most homeowners believe that all renovations increase their home’s value, the two experts state that there are common mistakes that can have the opposite effect. (Source: Mai, J., “6 renovations that can hurt your home’s resale value, according to HGTV’s ‘Property Brothers,’” Business Insider, April 15, 2016; http://www.businessinsider.com/hgtv-property-brothers-renovations-hurt-home-resale-value-2016-4.)
“Just because a home is renovated doesn’t necessarily mean that the value will go up,” says Lucio Campolongo, sales manager at CPL Aluminum Railings & Glass. “A renovation has to add actual value to the home. If making additions that most people wouldn’t want to pay for, then it can actually have a negative effect, something homeowners really need to be aware of.”
One thing that the Scott brothers caution homeowners about are renovations that are not family-friendly. While some homeowners may want to convert small bedrooms into walk-in closets or switch bathtubs for showers, these can make homes less attractive to families and cause a lower resale price.
“To ensure that the home has good resale value, renovations need to take into account more than just the owner’s own opinion,” Campolongo adds. “Houses with more bedrooms always sell for more, so turning a room into a walk-in closet can have a big effect on the home’s value. Ultimately, renovations shouldn’t detract from the home.”
Another common mistake that the Scott brothers highlight is when homeowners splurge on luxury rooms, including home movie theaters, wine cellars, and indoor gyms. They write that these rooms are rarely good investments, as they have limited appeal.
“Luxury rooms are a luxury, which means many people don’t need them,” Campolongo explains. “Not every buyer is going to have a need for a wine cellar or want to pay for a home movie theater. In addition, these types of renovations are very expensive. It’s better to focus on more cost-effective renovations that increase the home’s value rather than expensive ones which lower resale value.”
Another expensive renovation that is advised against are outdoor pools. Not only are they expensive to install, but the Scotts write that the ongoing maintenance and energy costs eat up a lot more money than the owners will get back in resale value.
“Pools are not always a good investment, but there are other outdoor renovations that are more affordable and better for the value of a home,” notes Campolongo. “For instance, a backyard patio can be a very affordable outdoor renovation; with a garden, railings, and the right furnishings, it can really add significant value to the home. And if the right types of railings and furnishings are used, there’s also no need to worry about the maintenance that a pool requires.”
“The best renovations are things that any potential buyer would find attractive,” Campolongo concludes. “Focus on renovations that everyone can get behind, such as outdoor renovations. For instance, not everyone needs a media room or a wine cellar, but everybody wants to live in a house that looks great. The first thing people see is the house’s exterior, so some simple outdoor renovations are usually the best bang for one’s buck.”
CPL Aluminum Railings & Glass Inc. has been a premier manufacturer of specialty aluminum and glass railings for home renovations and luxury properties. Its innovative railings provide sleek design with enhanced durability and security. For more information, please call (905)-850-5590 or email cplaluminumrailings@bell.net.
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