Expecting to recoup most of the money you poured into home improvements when it comes time to sell? Think again. In fact, some projects can actually reduce the value of your home. Make such improvements for yourself or your family to enjoy. Above all, avoid the five following improvements, especially if you’re hoping to sell soon. They simply won’t add any value to your home, at least not enough to pay back the cost of the project itself.
- Swimming pools – Even if you live in a sweltering hot climate and can easily picture your friends and family lying by the pool on a hot summer day, potential homebuyers may not. Instead, they’re imagining hours of upkeep, expensive costs and dangerous liability.
- Upscale landscaping – There are two problems with fancy landscaping: taste and upkeep. Instead, keep it simple with native plants that require little water and maintenance. You’ll spend less overall for a picture-perfect yard.
- Wall-to-wall carpeting – Not long ago, wall-to-wall carpeting was the norm in many suburban homes. Today, that’s not the case. In fact, many home buyers prefer hardwood floors or a wood/carpet mix.
- High-end upgrades – Many people think high-end upgrades will increase the value of their home, but that’s not necessarily true. The amount of money you spend on top-of-the-line appliances in your kitchen, rare marble countertops or imported tiles for your bathroom may do little to increase a home’s price.
- Invisible improvements – Just because you spent a lot of money on new plumbing or a new HVAC unit doesn’t mean the potential buyer will pay you more for the property. It is always a good idea to invest in these projects for maintenance reasons, but not for an investment in your home’s value. Don’t make basic repairs assuming buyers will notice and pay more.
