4 Renovations That May Not Increase Your Home’s Value

Every homeowner has to carry out routine maintenance tasks, like repairing plumbing systems and staining their decks. However, some homeowners choose to renovate their homes with the aim of increasing the home’s value.

It is important to note that, even if the current homeowner might be impressed by a renovation, a buyer or the future homeowner might not be impressed with the upgrade.

In fact, they might be unwilling to factor the upgrade into the purchase price of the house. Therefore, it is advisable to be very cautious about how you choose to spend your money when renovating your home. Here are some renovations that you think might add value to your house, but they really don’t.

1. Swimming Pool

Having a swimming pool on your property is not a bad thing, but some potential homeowners might view them differently. They tend to think that swimming pools are dangerous (especially if they have children), and expensive to maintain.

This can affect the sale of your house, because some buyers will turn it down in search of a house which does not have a swimming pool.

An in-ground pool costs around $10,000 or more, depending on its size and features. However, you might end up spending more money on annual maintenance expenses, making this renovation not really worth investing in.

2. Extensive Landscaping

Although homebuyers may appreciate a mature or well-maintained landscaping, don’t expect the value of your home to increase because of your newly improved landscape. A good landscape will attract homebuyers to your house, but they will consider the fact that they may not be able or willing to maintain the garden, and it will become an eyesore.

On the other hand, if they decide to take care of the garden, they will have to hire a gardener to take care of the garden, and this would incur additional costs.

Either way, most buyers view landscaping as a burden, even if it makes a home more attractive. Therefore, don’t expect a buyer to consider your landscape when placing a value on your house.

3. High End Upgrades

Although it is important to upgrade your home, the upgrades should be consistent to maintain quality and style in your home. You don’t need to install imported tiles, and put stainless steel appliances in your kitchen if you have a floor that has not been upgraded.

Normally, high quality upgrades increase the value of high end homes. Therefore, if you have a mid-range house, where high end upgrades might be inconsistent with the rest of the house, you don’t need such upgrades. In addition, homes with high end upgrades only attract specific homebuyers who might not be near your location.

4. Wall To Wall Carpeting

Carpeting is quite expensive to purchase and install, especially if you have a large flooring area. If you have just installed wall to wall carpeting, and you are considering selling your home, you might end up losing a lot of money.

First of all, people have different tastes and preferences. Your preferred color and fiber of your carpet might not be appealing to your future homebuyer. Secondly, most people fear allergens and cleaning products that are used in cleaning carpets.

Therefore, they tend to remove the old carpet flooring and replace it with a new one, for their own safety. This means that your wall to wall carpeting will not be considered when valuing the house, regardless of the amount of money you used to purchase and install the carpet.

Conclusion

It is evident that you should be very considerate when renovating your house. There are a number of factors you need to consider beforehand, to avoid losing money in the long run.

Some of these factors include your location, the number of years you are planning to live in the house, and your budget. Finally, you should consult an expert, like a realtor, to help you make the right decisions.

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