6 House Improvements To Avoid
While most renovation projects seem like they’ll improve your property value, they may just make your house arguably harder to sell in the future.
Here are six house improvements to avoid if you’re looking to increase the value of your home.
1. A Swimming Pool Or Hot Tub
Consider adding a pool if you’re going to live in your house long-term but reconsider the renovation if you plan to sell. Potential buyers could be turned off because a pool adds to overall home expenses and can cause safety concerns. Pools can also increase the cost of homeowners insurance.
ROI Estimate: 7.3%
2. Elaborate Professional Landscaping
If you’re planning to sell anytime soon, elaborate professional landscaping won’t add value to your home. Instead of extensive landscaping, keep your lawn well-maintained with trimmed and pruned bushes, shrubs and trees.
Having to hire a professional landscaping company for monthly upkeep may cause disinterest for buyers. Stick with low-maintenance landscaping, as buyers may want to add their personal touches to the lawn or garden when they move in.4
ROI Estimate: 5.5 – 12.7%
3. Garage Conversion
It can seem enticing to turn the garage into another usable space, like an office or another living area. However, this doesn’t always mean added value to the home. Not everyone wants an extra room at the expense of losing a garage.
A garage conversion can result in an expensive home remodeling project that you’ll never get your investment back from.
ROI Estimate: 4.3%
4. Unique Wallpaper
It’s very difficult to find wallpaper that will match everyone’s taste. The cost of wallpaper per room averages $1,680 – $8,800.9 Due to the high cost and personal preferences, it’s not recommended to use it if you want to increase your home’s resale value.
Instead, you should consider professional painting in neutral colors, such as white, light gray or beige.10 Not only are these tones universal when it comes to redesigning the interior of your home, but they’re more enticing for potential buyers who are looking for a move-in ready home.
ROI Estimate: Negative return
5. Sunrooms
One project with the lowest impact on value is an added sunroom. A sunroom is a room with windows in every direction, which can be great if you like to soak up the morning sun or need another living space. There are two types of sunrooms: four-season rooms and solariums.
Adding a sunroom can cost $25,000 – $80,000 on average, while you typically only recoup half of it at resale, suffering a net loss of approximately $40,000. A sunroom can be a selling point for the right buyer, but it doesn’t significantly impact your resale value.
ROI Estimate: 5.3%
6. Bedroom Conversion
Removing a bedroom and converting it into a walk-in closet or a loft is one of the worst things you can do for your home’s value.
Aside from square footage, the total number of bedrooms a home has is a primary driver of the sales price. Generally, people search for new homes based on the number of bedrooms they need.
If you have to convert a bedroom, leave the essential components that allow it to be converted back in the future. Don’t remove the closet (one requirement to claiming a room as a bedroom) and keep any door frames intact.
A conversion like this will actually lower your home’s value, as it means fewer bedrooms. It will also reduce the home’s visibility for potential home buyers in their search.
ROI Estimate: Negative return
Article Source: [www.rocketmortgage.com]
