Looking to do a home improvement that will improve the value of your home? Here are 5 projects that won't…
When it comes to adding value to your home, here are 5 Things you should avoid…
- Swimming pools. First of all, let me say hanging out by a pool is an excellent way to spend a hot, sunny day. Have we had any of those lately? Hmmmm... But know this, you can easily spend in the 5 figures to add a pool. Don't expect much if any of that back when you sell. But get one anyway and enjoy it!
- Overbuilding your neighborhood. While a large, expensive remodel, such as adding a second story with two bedrooms and a full bath, might make your home more appealing, it will not add significantly to the resale value if the house is in the midst of a neighborhood of small, one-story homes.
- Extensive landscaping. A beautiful yard may make the house look better, but it doesn't necessarily translate into money at selling time. In a strange quirk however, a shabbily maintained yard will hurt your re-sale as well.
- Wall to wall carpeting. The style and carpeting that you think is absolutely the bomb may not appeal to a potential home buyer. Add in the cost of new carpeting and you will find it difficult to recoup the cost on re-sale. On top of that, many home buyers do not want to live on your carpet, and if you stop to think about it, you probably don't want to live on someone else's carpet either.
- High-end upgrades. High-quality upgrades generally increase the value of high-end homes, but not necessarily mid-range houses where the upgrade may be inconsistent with the rest of the home.
All that said, you should live in the house that you want. Build, swim, plant, carpet and up-grade to your hearts content. Just don't expect a lot of added value back in the re-sale market.