10 Home Improvement Projects that Might not be Worth Doing
Not every renovation will necessarily add value to your home for potential buyers. They may not like your choices. People also like to make their own renovations over time. There are certainly some which are sought after, but there are definitely some which aren’t, including the following:
Swimming pools. In most instances, it’s unrealistic to think that the addition of a pool will increase your property’s chances of selling.
Over-improving for your neighborhood. If your renovations drive the price of your property well beyond its neighbors, you’re making a mistake. Plus, you may well have increased the maintenance costs and taxes on your property, also unappealing to buyers.
Extensive landscaping. In general, adding a lot of landscaping (without specific purpose) is personal and may not appeal to a buyer. Keeping your yard mowed and picked up and your bushes trimmed is a better choice.
Some High-end upgrades. Thing like imported tiles, fancy bath tubs, built-in Jacuzzis, hand-decorated wallpaper, Persian rugs, expensive light fixtures, etc., may be appealing to you, but they can be very personal choices which buyers would prefer to make themselves.
Wall-to-wall carpeting. Better to clean than replace which again allows for the buyers’ personal choices. Don’t cover wood flooring. It’s better to refinish it than cover it with carpeting.
Invisible improvements. Things like new plumbing and heating systems sound great on paper, but everyone expects there to be heating and plumbing in the house they buy. Make sure it has been serviced recently and is functioning properly. In general, buyers are more impressed by what they see.
A refinished or well-decorated basement. This is the type of improvement which might help clinch a sale to some buyers, but they still might not be ready to pay more for this feature. It’s unlikely that it will pay you back.
Building or upgrading a deck. Be sure that your existing deck is in good repair, but money spent on new or upgraded decks probably won’t make the difference in your selling price.
Patio frills. Water fountains, fish ponds, awnings, gazebos, or a multi-purpose playground are expensive “luxuries” which may or may not impress a buyer and may even help clinch a sale, but they too are not likely to increase the value of a home to the extent of their cost.
The addition or expansion of a garage or carport. Garages are one of those things that, in our part of the country, people want and assume that most properties will have. They might be willing to pay a bit more if the house has one, but, again, not perhaps as much as it cost you to add one.
This article was adapted from an article which appeared on Yahoo! Finance, on Wednesday, February 9, 2011. It was written by Fred Fletcher, a Yahoo! Contributor.