(NC)-Custom renovations are often a great way to put your family's personal stamp on a home. However, you may want to reconsider if you plan on installing something as unique as an indoor waterslide.
"There is nothing wrong with transforming your home to reflect your family's style," says Carlo Racioppo, a broker with Royal LePage. "But whether your plan is to stay or sell in the future it is important to keep in mind that customizations do not always have a positive effect on the value of your home."
Racioppo recommends the following five tips to consider when customizing your home.
• Avoid extravagant personal touches. Before choosing to install built-in aquariums, bold wallpaper patterns or green marble countertops, remember that over-the-top personal touches can potentially decrease the value of your home.
• Stay away from outdoor spaces that are not climate appropriate. In Canada the majority of us can only utilize our backyards for half the year. Additions like outdoor kitchens or tennis courts might be something to reconsider.
• Beware of changing a room's function. Sometimes the easiest way to decrease the value of a home is to decrease the number of bedrooms. Consider how difficult it may be for future homeowners if you plan on changing a bedroom into a theatre room or home office.
• Reconsider the thought of having a pool. If having a pool will please your entire family, then by all means get one. But bear in mind a pool will never add monetary value to your home. Pools require maintenance and can be a safety concern for small children. These are issues homebuyers may not want to deal with.
• Think twice about turning your garage into a "man cave." There is no harm in turning your garage into an entertainment den but if you ever plan on moving, keep in mind the majority of potential buyers may prefer a useful garage.
More information about home renovations is available online at www.royallepage.ca.
Courtesy of Newscanada