Before making a commitment to purchasing a home, it's important to consider whether some of your favorite features could potentially hinder its future sale. Certain design and architectural elements, such as swimming pools and tile floors, can divide homebuyers into two camps: those who consider them a deal-breaker and those who absolutely love them.
While these amenities may not be the sole factors influencing your decision to buy a home, it's essential to have a clear understanding of what you're getting into. Here are some aspects to be cautious about when purchasing your dream home, taking into account both the positive and potential negative aspects.
OVER-THE-TOP RENOVATIONS: You may adore a chef's designer kitchen with luxurious features like a Sub-Zero fridge. However, if other homes in your neighborhood lack similar high-end elements such as marble countertops or elaborate crown moldings, these luxury items may be excessive when it comes to selling your home. Moreover, if these features are truly top-of-the-line, you run the risk of pricing your home beyond the market range. While potential buyers may be willing to pay a bit more for these elements, it would only represent a small percentage of their actual cost.
A SWIMMING POOL:Having a swimming pool may not greatly enhance the value of your home in Alberta, where the majority of the year is characterized by winter weather. The ongoing maintenance that a pool requires throughout the year does not outweigh the limited utility it offers during the relatively short duration of warmer months.
TILE FLOORING: If you have a fondness for shiny patterned tile floors, that's fantastic. However, future potential buyers of your home may not share the same enthusiasm. Tiles are among the most difficult flooring types to remove, which can turn off prospective buyers. Moreover, the specific tile design and choice of colors may not be visually appealing to everyone, especially in colder climates like Calgary and Edmonton.
This doesn't mean you should remove existing tile if you genuinely like it. Just be aware that not everyone will share your sentiment. A safer option would be the always popular engineered hardwood flooring.
A SCHOOL NEXT DOOR: Living next door to your child's school might seem like a dream come true if you have young kids. The idea of walking them just a few blocks down the street to school every day is appealing. However, buyers who have moved past that stage of life may not share the same sentiment. Buyers over the age of 50 might be less enthusiastic about the traffic and the presence of children in the neighborhood. Schools often bring an influx of cars and buses, along with reduced speed limits that could inconvenience daily commutes. Not to mention the joyful noises emanating from the playground!
Whether you prefer to be close or far from a school, it's advisable to consult your realtor to learn more about the community dynamics and factors to consider.
BUSY STREETS IN THE VICINITY: Some individuals enjoy the hustle and bustle of a vibrant neighborhood, with restaurants, bars, and their favorite boutique just a few doors down, as well as easy access to major roadways. However, before making a purchase, it's important to reconsider. Unless you're located in a highly desirable inner-city area, selling a home situated on a busy street can be challenging. Such homes typically have lower value compared to those located deeper within residential communities.
While you may be captivated by the energy of a walkable neighborhood in Calgary, potential buyers may not share the same sentiment. Make sure you understand the potential consequences, so you won't be caught off guard when you decide to move 15-20 years down the road.
Posted by Jerald Moras on