If you have no plans to resell your home it is all right to spend an extravagant amount of money on your home improvement projects. However, if you are an investor or you have bought a home that you want to resell in the near future, then you should select your home improvement projects wisely.
These 7 home improvement ideas will help you avoid investing in projects that will add no value to your property.
1. Lavish Landscape
Pictures of beautifully planned, lavish landscapes might lead to think it’s a good idea, but you can ask any experienced real estate agent, you will not get your money’s worth if you invest in an over-the-top landscape.
It is vital to have a landscape design that does not only match the interior of the house, but it should also match with the value of the home. If you still want to invest in the yard you can invest your money on building a deck or a patio.
2. Swimming Pool
A swimming pool might seem like a fancy feature that would increase the value of your house, but it is the other way round! In-ground swimming pools negatively affect the value of the home, mainly because families with young children do not prefer to have one. It is a 24/7 safety hazard for their children.
A house with a swimming pool is not only tricky to sell to families with children, It is also considered an on-going expense because maintaining a swimming pool can cost at $1000 to $2000. Apart from the on-going maintenance, there are homeowner insurance raises, and its electricity consumption is also quite high. Electricity is expensive these days.
3. Adding an Office
Adding an office might be a good idea if you are creating a new space out of an attic or an unfinished basement. However, if you are planning to renovating a bedroom to an office, this home improvement idea will not add any value to your property. Bedrooms are more useful.
Properties are valued according to the number of bedrooms, so subtracting a bedroom to add an office will not be a good idea. Especially if you are planning to sell your property as a family home.
4. Old-Fashion Décor
Buyers are usually not looking for homes that look out-dated. If you are planning to invest in renovating your property, don’t go for old-fashioned or specialty décor thinking that it will add class to your property.
If old and classy is your style you should invest enough time to search for modern home décor ideas that have old and classy elements. Rather than going old-fashioned wholly, keep it chic and add details that depict your style. You can always remove those elements when you decide to sell.
5. High-End Kitchen Changes
High-end appliances and significant kitchen changes might attract you, but they don’t necessarily attract buyers. Especially if you expect buyers to take into consideration the high-end appliances and pay more for the property.
Before you invest in any high-end appliance, you should consider the buyers’ point of view. Ask yourself whether you would pay an extra price for the property only because it offers high-end appliances. Don’t invest in any home improvement project that has a low chance of paying back.
6. Latest Technology
Equipping your home with a load of customized technology options or IT-based technology will not bring a suitable return. If you are planning to sell your home within a year, then it might be a good idea. However, property selling does not always go to plan. Technology gets old very fast.