Kim Mullan Blog
The Over-Improved Property
March 4th 2018
Not all renovations will increase the value of your home. Some renovations are lifestyle improvements that are for a home-owners personal pleasure.
Some improvements hold no value if they are unpopular decor decisions (peuce-coloured granite comes to mind). In fact, they may decrease value.
Pouring a lot of money into a poor floor plan without correcting function is a common mistake.
Over- improving for area or a neighbourhoods maximum consumer confidence can result in a very small resale audience as buyers are wary of being “best or biggest” without similar context.
Talk to Your Realtor® before making any big decisions about the future value or your renovation plans.