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Bad Home Renovations that Don’t Add Much Value


Under Real Estate

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July 18th, 2016

It’s important to understand that not all home upgrades are valuable.
While you might think some are super valuable, many in fact don’t add to your home at all. Before you begin any home renovations, make sure they will add to the value of your home.
Here are six projects to absolutely avoid :

1. Plumbing and HVAC improvements
Most potential buyers expect your home to have functioning plumbing and HVAC systems. This doesn’t mean you have to upgrade all of it – steel piping, energy efficient HVAC system, etc. Rather you can focus on smaller, cheaper improvements that keep both in good working order. Therefore if you plan on selling your home in the near future, invest in regular plumbing and HVAC maintenance instead of pricey upgrades.

2. Ornate lighting, bright colors and custom tiling
If you plan on selling your home, avoid loud and eclectic design elements. Subtle accent walls and tasteful backsplashes are simple design features that will add to your home’s appeal. If you need help with these projects, you can consult the Internet or a painting professional. Just make sure you lean towards the cheaper side.
Lighting is also another element that can break the bank. While you want the house to look bright and inviting, you don’t want to overdo it or overrun your home circuitry. Instead, consider installing recessed or LED lights for a modern and energy efficient upgrade. Some versions aren’t that expensive and will increase overall appeal.

3. Swimming pools
Swimming pools require a sizeable amount of cash to operate and maintain. While you might live in a climate where they’re great, you’re still looking at months without usage. Here are the most common reasons swimming pools devalue homes :
–The upfront cost of an in-ground pool is around $31,000.
–Some homeowners find pools to be a safety risk.
–Some climates limit pool usage.
–Expensive maintenance
Basically, unless you live in a tropical climate where it’s warm year-round, swimming pools are not for your home. And in most places, they won’t add anything to your resale value because sellers are looking at a challenging upkeep project.

4. Room conversions
Changing the purpose of a room can limit its usefulness. Some difficult room conversions include :
–Transforming a bedroom into a studio.
–Removing walls to enlarge a space.
–Converting a garage into a gaming room.
–Eliminating a bedroom to extend a room.
If you really want to convert a space, make sure the new purpose is going to be useful. For example, maybe you’ll knock down the wall between the dining room and kitchen. That way you get one space but it doesn’t take away from the purpose.

5. Remodeled basements
Having a basement, unfinished or finished, is not always a bad thing. However, that doesn’t mean you should put every expensive touch in the space. Remodeled basements can sometimes price your home out of your neighborhood — which is a drawback to many buyers. Smaller improvements, like upgraded storage capacity, will recoup far more than a full renovation or custom upgrade.

6. Extensive exterior improvements
A well-manicured lawn and garden will invite buyers to take a closer look at your home. Unfortunately, extensive landscaping doesn’t always influence the overall value of your home. Instead, you should think about low-cost ways to improve the look of your home’s exterior. Here are some simple upgrades :
–Planting more bushes and trees.
–Adding hanging plants to the porch.
–Redoing the house numbers.
–Repainting the front door.
You can DIY these projects to save money and time.

Conclusion
Renovations that impact the aesthetic appeal of your home may not add to its value. Similarly, custom upgrades may appeal more to you than to potential buyers. If you’re thinking of selling your home, it’s best to keep renovations small, neutral in looks and centered around improving the functionality of your home.

Bad Home Renovations that Don’t Add Much Value by Andrea Davis | MSN Real Estate

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