Don't solely think of how much resale value the renovation project is going to have when you decide to sell. But, to that point,consider the practicality of the project(s)you are undertaking. For instance, is that renovation going to give your home an "awkward flow"?
I've recently shown a couple of homes, where the renovations have turned my client away. I am not talking about a room being painted hot pink,if that is not your taste,which doesn't involve structural change to the home if you buy it.
We previewed a home at 523 INGRAHAM ST NW,in a subdivision of Washington DC called Petworth. The owner of the home tried to turn the home into an income property,where he & his wife would live in one area and they would rent out the other areas to help cover the mortgage. In and of itself this sounds like a good idea. But in creating "seperate living spaces" in the home,the owner hurt the flow of his home. For instance,there is one bedroom upstairs which has a seperate entrance and a kitchenette,so a person can live there as though he or she was in an apartment. However, what the owner did and I think was a huge mistake was removing the door from that room to the upstairs hallway and creating a wall. It would have been more practical to keep the door and put a lock on it from the outside so his tenant could have privacy. Somebody who wants this house as a single family home would have to undue this renovation project. Outside the owner created a 4 car garage so he could rent out spaces to his tenants. The consequence of this was that the home has no backyard and a buyer would wants a yard would have to figure out a solution. I brought a contractor out, who I thought had a great solution, but my client thought there was too much undoing to make the home how she would want it.
Another home we saw is in Columbia heights,1216 Shepherd St NW. The owner added a main level bathroom, which in and of itself was a wonderful idea. Particularly in Washington, DC, many older homes weren't built with main level bathrooms. So guests would have to go upstairs and you would have less privacy since bedrooms are up there. However, the bathroom was created in an area that used to be a walkway and door to the backyard. That no longer exists. So, you can't go from the yard and into the main level of the home without walking all the way around the home (and of course you can't go to the backyard without going out the front door and walking around the house). It makes it a little bit tedious if you want to bbq in the backyard,if you are playing in the backyard.
Another strange renovation was closing off the stairs from the main level to the basement. I don't understand it because there isn't a washer and dryer on the main level or upstairs. Obviously the idea was using the basement as a rental unit,but it would have been simpler to put a lock on the door leading through the basement. When you are in the basement apartment,it is not apparent where the steps connecting the main level to the basement would be,so you would need to bring in a contractor. Again,if you wanted this home to be yours as a single family home,you probably would undo these renovations.
An outdoor renovation project that the owner undertook was converting the front yard into an outdoor parking area. My client likes grass,so that was an issue for her. The seller has a nice yard although the home is on a quiet street with a good amount of parking. But,you are never guaranteed a parking spot if neighbors have guests over or just buy more cars,resulting in less street parking,so I will give the owner credit for this renovation.
So,when considering a home improvement project,consider the impact it will have on the structural flow of your home. Ask some friends and ask some realtors their opinions on your renovation idea(s)before doing them. Sometimes the best advise comes from people who are on the outside looking in.
Adam
adambashein@mris.com
basheinhomes.info
301-943-4370
Adam Bashein
Licensed in MD & DC
Weichert Realtors
7821 Tuckerman Lane
Potomac,MD 20854
301-718-4100 ext. 132
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