Home Renovations That May Not Add Value
Posted May 25, 2014


Some homeowners make renovations to their homes, thinking that they will recover their investment and more when they sell the house. Updating bathrooms, kitchens or adding a needed family room can result in added value, but there are others that won't. There are some that may actually be deterrents to potential home buyers.

Making a large expensive remodel to a home will make it attractive to the owner, but if it noticably increases the size over all the others in the neighborhood, it won't add much to the resale value. The buyer will want to pay a price that is comparable to the rest of the homes in that neighborhood.

A beautifully landscaped yard will definitely make a buyer want to look inside the house, making it worth the investment, but the cost will not add substantially to the price of the home.

The cost of adding a pool isn't cheap, but its presence at a home for sale may be seen as a danger to home buyers, especially those with small children. There are yearly maintenance expenses to be added to the initial cost, and a buyer may make an offer contingent on the owner removing the pool, whether above ground or in-ground.

Look at the big picture first when making upgrades inside the house. If the basement still has paneling and the bedrooms are keeping the shag carpet, make sure the upgrades that are made aren’t too high-end. Keep any upgrades consistent with the rest of the home.

Upgrades such as new plumbing or a new HVAC system will make life easier for the homeowner, but a buyer expects to find these things already in good condition. These most likely won’t add value to the home.

If you plan to eventually sell the home, you may want to consult your real estate agent about which improvement projects are more likely to add to the actual resale value.

Posted By: Michelle Keaton-Barrow
May 25, 2014 10:39 PM




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