You expect every update to have a decent return on investment when it’s time to sell your home. However, there are some projects that don’t add value for homebuyers. Keep this in mind as you are considering home improvement projects. Some upgrades won’t increase your property value when it’s time to sell.
Projects That Don’t Add Value: Swimming Pool
Installing a swimming pool is one of those home improvement projects about which potential homebuyers often disagree. Some buyers would enjoy having a swimming pool, while others view its expensive upkeep as a negative.
Don’t install a pool unless you plan to use it often, know the maintenance required, and don’t mind not recouping your investment when you decide to sell.
Specialty Home Improvement Projects Won’t Add Value
Adding a workshop or theater space may be great for your family, but it isn’t great when future buyers don’t share your interests. Converting a bedroom to a home office is okay as long as the room’s structure isn’t changed. Updates to rooms should be easily reversible by the seller or buyer.
It’s usually a bad idea to convert rooms from their original purpose, such as remodeling the garage into a bedroom. Doing so can turn off buyers who want a functional garage.
Don’t decrease the number of bedrooms in your square footage. Simply removing a closet reduces the home’s number of bedrooms and lowers its value.
Carpeting
Carpets are expensive home improvement projects, whether done personally or professionally. While some buyers may enjoy the look of brand new carpet, the return on investment is low. Instead, invest in tile or hardwood flooring that is less likely to go out of style. Alternatively, if the home needs new flooring, lower the asking price to give buyers the budget to install the material they choose.
Wallpaper
Wallpaper is more expensive, less universally pleasing, and more challenging to update than paint. When updating your home, stick to neutral paint colors for your improvements.
Don’t paint walls in new, trendy colors if you plan on selling in a few years; what is in fashion now may not be then. Touch up the walls before showing the house. Neutral tones are easy to paint over and appeal to the broadest range of potential buyers.
Luxury Features Often Have a Poor ROI
Don’t spend a lot on luxury features such as ornate lighting, high-end appliances, or a full wet bar on your list of home improvement projects. The returns on investment for these upgrades are low and rely on buyers sharing your tastes. Avoid investing in expensive materials and features that won’t be easily recouped.
American Dream Home Inspections offers inspection services in Northern and Central New Jersey. Contact us to schedule an appointment.