Planning a home renovation in the near future? As homeowners, we’re conditioned to believe that all upgrades and renovations add value to our home. Some homeowners take this very seriously, changing and renovating each part of their home until everything is changed and they are left with a completely different property.
In many cases, upgrading your house is a good idea. However, there are a few renovations that you should skip altogether if your main concern is adding value. Here are several renovations that won’t add value to your home:
While some people may look at a swimming pool as the ultimate luxury feature, a growing number of homeowners see pools as a safety hazard. Buyers with small children are especially worried about purchasing a home with a pool. Buyers also see pools as an additional expense and maintenance hassle. In many cases, part of the selling deal is for the pool to either be dismantled, if it’s an aboveground model, or filled in for belowground pools. If you’re considering installing a pool in your home, keep in mind that it probably won’t impact the resale value in a positive way.
Invisible upgrades such as a new plumbing or HVAC system will also not add the value to your home. Essentially, buyers automatically assume that these systems are going to be either new or in perfect condition before the sale. Since these systems are a given, potential buyers are unlikely to pay extra for upgrades.
Kitchens and Bathrooms
Many real estate agents are quick to point out renovated kitchens and bathrooms in a home. However, in the grand scheme of things, these renovations do not add significant value to your home. In many cases, homebuyers will purchase a home knowing they want to make several changes in the kitchen or bathroom anyway. Consider it a way for buyers to make the home truly feel like their own. This means that extensive bathroom and kitchen renovations are not really necessary.
Additionally, if you choose to renovate your kitchen but not the bathroom, it will look like a half-done job and buyers will not appreciate that they need to upgrade one to match the other.
Extensive landscaping projects can certainly add curb value to your home, but they do not impact the overall selling value. Many potential buyers will be impressed by a good landscaping job, but not enough to spend more on the property. Extensive landscaping also comes with extensive maintenance, which many homeowners are not willing to do. Stick to simple landscaping to save money and impress buyers.
With this being said, there is no clear right or wrong answer when it comes to renovating your home to add value. The best way to do it is to look at other homes in the area and talk to a professional about what buyers in the market are looking for. For more information on selling a property, contact the real estate experts at Tarvin Realtors today at (201) 444-0690.