Skip these 5 renovations to avoid harming your home’s value – telegraphherald.com

Theres been a boost in at-home renovation projects within the past year and it shows no signs of slowing.

The Leading Indicator of Remodeling Activity released in April forecasts mid-single-digit gains in yearly home improvement spending in 2021. By the first quarter of 2022, a 4.8% growth will occur.

With a financial boost from recent federal stimulus payments and strong house price appreciation, homeowners are continuing to invest in the upkeep and improvement of their homes, Chris Herbert, managing director of the Joint Center for Housing Studies said in a press release.

This lift in incomes and ongoing strength of the housing market are providing homeowners incentives to make even greater investments in their homes this year.

But before you make your next renovation, ensure that it will help and not harm your homes value. Start by skipping these five projects.

Unique lighting fixtures

Good lighting is essential, but it needs to be functional rather than ornate.

For example, an oversize hanging light is out of place in a small to medium size great room or living room since the fixture will just overwhelm the entire space just as a too-small fixture will be dwarfed by a space that too large and voluminous for it, house plan website The Plan Collection said.

Luxury bathrooms

Its important not to go overboard with bathroom upgrades.

Potential buyers could be scared off by bathroom remodel mistakes like over-personalized finishes and over-the-top whirlpool tubs that are hard to clean and hard for some people to climb into, GoBankingRates reported. Keep it simple with a walk-in shower with a rain shower head.

Brightly colored rooms

Just because a color is popular in magazines doesnt mean it will add value to a house in your area, Tulsa, Okla.-based real estate agent Paul Wheeler told HomeLight.

Cutting edge colors only work in cutting edge areas. Places like New York or L.A. pick up color trends first, then they trickle down to the middle of the country a few years later. So if were too far ahead of the trends, buyers arent going to like it.

Luckily, fixing it is just a matter of another paint job.

Bedroom-turned-home office

Many people have been working from home in the past year, but that doesnt mean you should get rid of your spare room in favor of an office. Custom cabinet installation, rewiring for electric equipment and other improvements have been shown to cost $29,066 and result in a $14,155 value. It might not be worth it.

High-end kitchens

Many people enjoy top-of-the-line kitchen appliances but only to an extent. New Jersey-based retailer Designer Appliances says on its blog that not all homes will see an increase in resale value simply because of updated appliances. This could happen if it isnt in a high-end market.

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Skip these 5 renovations to avoid harming your home's value - telegraphherald.com