As a homeowner it is necessary to pay for routine maintenance such as staining your deck, upgrading and replacing worn-out plumbing, painting, etc. Specific improvements, especially those that add functional space, can be wise investments.
However, there are upgrades and improvements that allow little opportunity to recover your costs when it comes time to sell your home; consequently, you need to be careful how you choose to spend your money when making improvements. Here are five common improvements that you may think add value, but really don’t.
Extremely High-end Kitchen
According to www.Remodeling.how.net, although the kitchen is often the heart of a home, the resale value of a major, high-end kitchen remodel is actually less than what you’ll invest in it. In 2015, the national average for a major kitchen remodel cost as much as $56,768, but the resale value was only $38,485.
A sunroom can be a great space to enjoy the outdoors away from the elements, but according to Remodeling, a sunroom addition is one of the worst home renovations when it comes to return on investment. In 2015, the national average mid-range sunroom addition cost $75,726 and only had a resale value of $36,704.
Built-in High-end Electronics
An in-house theater is perfect for any movie buff, but built-in or customized electronics that take up space in an otherwise usable room could be off-putting to potential buyers, according to www.BobVila.com. As with all home renovations, personalization can lead to a decrease in home value, and built-in technology that can quickly become outdated is no exception.
Too Much Carpeting
Most homebuyers (54%) are willing to pay more for a home with hardwood floors. Compared to hardwood and laminate floors, carpet can quickly show signs of damage. Plus, colors and textures are highly based on personal preference, and any overly personal touches can decrease a home’s value.
Wrong Landscaping Investment
Homeowners are prone to certain landscaping mistakes in the name of “curb appeal.” Costly landscaping decoration does not increase the value of your home, but rather increase the maintenance required for it. Best advice – keep your gardens beautiful but simple and easy to maintain, and be sure any decorative additions can be easily removed.
Home Improvement: How to Avoid Getting Cheated, Scammed and Horsewhipped by the Modern Contractor, by Ann Contorno
What Are The Best Home Improvements to Boost Value? www.daveramsey.com