\nIt could be a great idea to upgrade certain aspects of your home, just make sure you\u2019re choosing the upgrades that are worth the investment. If you want to add real resale value to your home, don’t waste your money doing these.\n
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One of the first resources realtors use to determine the value of your home is the neighborhood you live in and the homes in it. \u201cIf you improve your home too much, in any area, you may price your home outside of the neighborhood you live in,\u201d warns Ryan Fitzgerald, owner\/broker of Uphomes. A large or expensive remodel that doesn\u2019t make sense in your neighborhood won\u2019t match up with the price per square foot with neighboring homes. \u201cYou may find you\u2019re priced well outside the neighborhood price range,\u201d says Fitzgerald.\n
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A farmhouse style kitchen tricked out with fixtures, shiplap, and subway tile may be your design dream come true, but if the rest of the house has gold fixtures and shag carpet, it\u2019s a home upgrade that doesn\u2019t add value. \u201cIf you go from modern brushed nickel fixtures in one room and then walk into a room full of gold fixtures, your home is going to feel inconsistent to the buyers. Keep your fixtures and designs consistent,\u201d suggests Fitzgerald.\n
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Replacing an HVAC system, water heater, or roof can be standard home upgrades for most homeowners, but with regard to resale, don\u2019t get too excited about regaining much of your investment. \u201cBuyers will view these improvements as necessary for the home to function properly and assume the reason you made the purchase is that you received full use of the old one,\u201d says Fitzgerald.\n
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All those weekend trips to Home Depot buying woods, nails, and stain for your DIY home upgrade produced an expansive deck to be envied \u2014just don\u2019t expect to recoup the cost of a composite or upscale deck, because the market isn\u2019t demanding it, warns Fitzgerald. Don\u2019t worry, you could make worse mistakes like these stupid things people have done to their homes.\n
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A beautifully landscaped yard is pretty to look at but don\u2019t expect a lot of green to come back your way. \u201cIf you\u2019re paying for extensive landscaping such as fountains, or rock walls, don\u2019t expect buyers to pay for it,\u201d says Fitzgerald. You may enjoy hours toiling in the soil and tending to your koi fish but potential buyers see a lot weeding, watering, and maintenance.\n
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\u201cOne of the biggest misconceptions in real estate is that by adding a pool your home\u2019s value will increase,\u201d says Fitzgerald. In-ground pools and above-ground pools are expensive and require time and money to maintain and insure, not to mention additional safety measures to consider if you have young children. \u201cIf you\u2019re going to add a pool do it for pleasure, not for resale value. Many folks will never recoup the cost of the pool when they sell their home,\u201d Fitzgerald says.\n
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\u201cYou may think you\u2019re saving money by doing projects yourself instead of paying a professional to do it, but not when it comes time to sell,\u201d cautions Fitzgerald. Buyers scrutinize the small stuff. \u201cOne of the first things buyers notice is the craftsmanship, especially if things aren\u2019t done correctly. The few bucks you might save doing it yourself may end up costing you thousands in the sale,\u201d says Fitzgerald.\n
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\u201cA sun room addition may seem like a beautiful investment into your home, but proceed with caution,\u201d warns Mary Ann Graboyes, a real estate agent with Weichert Realtors\u00ae Blue Bell, Pennsylvania. It does provide that coveted square footage everyone wants but your taxes may increase. Plus, a sun room can take away from yard space, which may be a negative thing for some buyers.\n
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Painting murals or adding some wallpaper to a dull wall may seem like a cheap home upgrade, but it\u2019a not the best way to invest your money according to Graboyes. Removing wallpaper or painting over murals can be expensive and difficult. Potential buyers often have a hard time seeing past them. Here\u2019s how to create a stunning color scheme in your home.\n
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Unless you\u2019re in a rural area or a location that experiences power outages, a back-up generator isn\u2019t going to wow the socks off home buyers. Graboyes says this home upgrade is pricey and but doesn\u2019t generate a lot of cash for the $10,000 to $20,000 investment you make.\n
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Built-in fish aquariums and hot tubs are unique items that may deliver personal joy, but they also require a lot of maintenance and may not tickle a buyer\u2019s fancy. \u201cMore often in real estate transactions, a specialty built-in becomes a hindrance to the sales opportunity,\u201d says Graboyes.\n
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Your commitment to fitness is stellar but converting your garage into a gym is more an exercise of sweat equity than home upgrade value. \u201cMost buyers want their garage available for cars, not gym equipment. Before finishing a garage with gym equipment, flooring, and electric, plumbing, and heating, take your gym to the attic or basement,\u201d advises Graboyes.\n
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Your home should reflect who you are, but if you\u2019re not going to live there forever and plan to sell it someday, steer clear of personal and custom renovations, like a yoga and meditation studio or a wine cellar. \u201cBuyers are looking at the home as their own and they do not want to have to do more renovations. Keep your renovations clean and simple,\u201d recommends Justin Krzyston, contractor, designer, and owner of Stonehurst Construction.\n
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Sauna, steam showers, and heated floors and towel bars are creature comforts we love, but usually, it\u2019s money down the drain for these home upgrades. \u201cUnfortunately they won\u2019t bring back money when you go to sell your home. These upgrades are costly and a little too personal to the current homeowner,\u201d says Krzyston. Don\u2019t worry, there are cheaper home repairs that anyone can do.\n
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Expensive sound systems, high-end pool lights, or showy DIY home upgrades like LED shower heads and toilets aren\u2019t likely to add any real value to your home. \u201cThey are fun upgrades, but they are so costly to install and won\u2019t add a significant resale value,\u201d says Krzyston.\n","protected":false},"excerpt":{"rendered":"
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