I show a LOT of houses…..and talk about the functionality of the space every day. I am asked all the time “if we change “xxxx” – will it impact my resale value?”
WELL the answer is YES and NO….let me explain….
I live in a home that I have “changed” to suit my living preferences.
Built in 1989 – it really wasn’t the floorplan I was looking for. However, the LOCATION was PERFECT…corner lot – across the street from 2 schools – lake community…..triple garage for my hubby with lots of toys!!!! So, we just made it work. But to suit my family – and our lifestyle – we made many changes that were challenged by people in our life and realtors (I was NOT an agent at the time!)
We moved the laundry from a tiny closet sized area on the main floor – to the upper level. The home had 4 bedrooms and we only needed 3. So, from my perspective this was LOGICAL. Over and over, I got told why this was bad for RESALE value. We live in a community with large families. The house is across from a school and will attract those buyers….etc etc. BUT I was going to live there a long time – and changing this made me HAPPIER and made my life EASIER. Some day when we go to sell – I KNOW that some new buyer will VALUE the laundry room on the upper level! And if they really want to have a four-bedroom home – it can just be changed BACK!
*FUN fact – new builds almost always have laundry on the upper floor….I was really ahead of my time 😉
The second thing we did, which has also caused controversy and challenge – is changing the original family room into a dining room and the formal living/dining area at the front of our home into our main living area. For the first 3 years I lived here – the front half of my house could fall off and I wouldn’t miss it! I just didn’t need 2 living areas and a formal dining room! All I did was clean/dust it……and it was the LARGEST part of the main floor. So, with the help and vision of a great friend on a Friday afternoon (after a couple of glasses of wine!) we moved things around. Cliff came home to a different house.
We LOVE it this way – and we finally use ALL of our home. I will admit that when we sell – I will likely take photos of the way we have it now – and then change it back to a more traditional living/dining and family room/kitchen nook – since a future buyer might want to see the options!
The home we had before this one was a new build and we got to make choices regarding what we wanted. Neither Cliff or I are bath people – so we chose to just have a larger shower in our ensuite. When we went to sell (again, before I was in the industry) it did impact the buyer for sure. Our Neighbour had always wanted our home because we had a huge corner lot – but she took a bath every day – and our home was not a good fit for her lifestyle. FYI – we did have a bathtub in the main bath upstairs! We did find the RIGHT buyer. One like us, that did not want to give up valuable real estate in that bathroom for a tub they would only DUST!
Yesterday I went on a listing appointment – and the house across the street was painted stucco in bright avocado green – they committed to thsi color right down to the front door and garage door! NOT for me…but they must love it.
I have a client with an indoor pool. He uses it EVERY day. But pools are not as common in Calgary. So, a new buyer may see this as a detriment not a benefit. But there will always be a buyer who wants a pool! PS – shocking low maintenance and no pool odor throughout the home!
COVID changed the rules of what you need in your home. Many need to live/work/play and work out in that one place. As a stager – I used to say, “move your exercise equipment out of rooms that are not true gyms”. Now I say – bring in more weights, yoga matts and water bottles. Lets make the space look multi-functional!
Office equipment…I am the queen of finding “pocket office” space in any size home! Office in the living room? OK. Office in the kitchen? OK. Office in the bedroom? Ok. Office in a hallway closet? OK!!!
At the end of the day – do what YOU want to do in YOUR home. There will ALWAYS be a buyer that will like what you like. Two things – LOCATION will always be the most important criteria for future buyers ….and PAINT is the one thing that you may want to / need to neutralize if you want to sell for top dollar!