Mostly all home owners will renovate their homes thinking that they have a vision of how great it will increase the value of their home. But as many as a smart home renovator knows, that always isn’t the case.
Here are 8 home improvements to avoid.
1. Going overboard in home improvements for your neighborhood. This is one of the biggest mistakes that a home owner can make, not taking into account that the value of their house has a finite limit. A $ 100,000 let’s say kitchen renovation in a neighborhood where the top value of other homes is $ 100,000 isn’t going to make your property worth $ 200,000.
2. Putting in a backyard pool. In certain markets where the daily weather is sweltering most of the year, you can’t recoup your investment. In many areas the pool is a detriment and really turns people away from your home. You should never add that pool thinking it will improve the value of your home.
3. Planning to say in your home for a long time. You might enjoy the pool, then it makes sense to get one, because some factors, such as for personal enjoyment do add up and you can’t put a value on that.
4. Putting in outlandishly expensive stuff. A wine cellar and an expensive oversized pool sized hot tub are among items you should avoid installing or even that 2 story pole barn avoid because it may be hard to recoup your investment. Things like these appeal to a small niche of the home buyer market, and others may not pay extra for them.
5. Adding that new roof. Oh boy! Who would have guessed this one right. What studies have shown is that people really don’t care anymore about that roof then whether or not it leaks. Roofs are very costly, don’t replace yours unless it really needs it.
6. Thinking about fancy technology. Over the past decade or so technology has rapidly changed and is upgrading every day. VCR or Betamax anyone. Chances are any state of the art gadgets you install today will be obsolete by the time you sell your property. Remember when everybody was scrambling to put internet cables in their homes. Now today’s technology is wireless and few of us have outlets in our walls to remind us.
7. Altering your home’s style. Adding home improvements and renovations that don’t match your home’s original style is a real mistake and can make it less viable for a buyer to purchase.
8. Want to replace those kitchen cabinets. Upgrading the kitchen cabinets is a great decision if that kitchen space is looking a little outdated. But, you may need not to break the bank to do a complete replacement. The best idea would be to paint them before spending the big bucks.