Five Remodels That Don’t Boost Home Value
When it comes to home renovations, owners are sometimes surprised to learn that not every update increases a home’s value. These five remodeling ideas don’t tend to pay off when the house is sold.
1. Inground Swimming Pool
Not only is this an expensive project ($30,000 to $75,000), it can dramatically limit the potential market for a home. Many buyers don’t want the upkeep and expense of a pool, and those with young children may consider it a safety hazard.
2. Wall-to-Wall Carpeting
Most modern homeowners prefer hard flooring to carpet, so those who are planning to sell should avoid updating the floors with carpet. Simply steam the existing carpet and remove any stains, or sand and shine a wood floor when preparing to sell.
3. Specialized Rooms
Some people have always dreamed of having a home gym, library, or recording studio. But when it comes time to sell, these expensive upgrades are seen as negatives for the majority of buyers who are most concerned with the usable square footage.
4. Luxury Add-Ons
Too many costly upgrades can increase the home’s value beyond what the neighborhood will support. In most homes, gourmet chef’s kitchens, whirlpool tubs, and expensive custom materials won’t appeal to buyers who will likely opt for a lower-priced home in the same area.
5. Basic Systems
While home renovations that update a home’s “invisible” systems like HVAC, plumbing, and electric are critical, they won’t add value to a home. The reason? Buyers feel entitled to these items when home shopping and don’t want to pay extra.
It’s important to consider both value and enjoyment in house remodeling. Homeowners who will enjoy these upgrades and plan to stay put for several years should take the leap. Those who plan to sell within five years should stick to renovations that improve the home’s value, such as kitchens, bathrooms, decks and outdoor spaces, and energy-efficient windows and appliances.