Routine home maintenance will help a homeowner ensure that the structural integrity of his house is intact all the time. This would include replacing worn-out plumbing components and even staining his deck area if it’s paint colors faded out. But sometimes what a homeowner wants is more than just improving his home but more importantly to increase its market value.
There are a handful of projects in the form of renovation or remodeling work that help increase a home’s value. Like for instance, a homeowner can decide to proceed to renovate their family room. Or they can also decide to remodel their kitchen to give it a modern look and design.
Some homeowners though are under the notion that installing a swim spa for sale can wield that magic, too, increase their home’s market value.
But here’s the catch on this. You can’t expect to win the approval of potential home buyers on this. Some of them will not be too impressed with the outcome of the renovation work you did, even when you think you have the most discriminating taste in home styling and all. You can’t blame them if they are not willing to factor in the upgrade cost to the purchase price of your home.
To keep such a scenario from happening, homeowners must know how they should spend their money with respect to making home improvements and they seriously want their investment to pay off. Here are some of the things many of us thought to add value to our home, but don’t.
Installing a Swimming Pool
A swimming pool equipment in a residential property is always a great amenity in a backyard. It will not just give you or members of your household a place to laze around in a muggy afternoon, but it also offers a fun opportunity to enjoy hydro-exercises.
But there are downsides to a regular swimming pool installation, sometimes it can be a hassle too. Initially, there is the cost of the pool installation itself. With respect to HomeAdvisor’s word on this matter, they are saying that installing a swimming pool nowadays has an average cost of $27,689.
Add to that amount the maintenance costs which will run around $4,000 every year. Needless to say, this figure is a significant amount of money with no way of recouping should the homeowner decide to sell the property in the future.
Instead of a traditional swimming pool in your backyard, we strongly suggest that you consider looking for a swim spa for sale. It comes with a low maintenance cost and will definitely add value to your home. Besides, it is an added attraction to your home in the eyes of property buyers, just in case you decide to sell it.
Overbuilding for the Neighborhood
Sometimes it comes to a point that you need to have some extra room in your house, but you are shunning the idea of moving because you don’t want the hassle it entails. Perhaps you want an additional room to accommodate, say, your in-laws. Or if there is a new member of the family coming soon (baby), it may need to have a dedicated nursery room.
The natural reaction of potential homebuyers upon seeing well-maintained landscaping will either appreciate it or admire it. But they are not going to expect that it will propel the home’s selling price to go up just because of it.
If you have a beautifully landscaped backyard, it will certainly add curb appeal to the outdoor space and may entice potential buyers to consider looking into the property. Unfortunately, it won’t help add up more value to its selling price.
Inconsistent High-End Upgrades
Upgrades in any corner of your home need to be consistent with respect to maintaining or keeping the uniformity of quality and style throughout the 4 corners of your home. If you will consider putting stainless steel appliances in the kitchen area or you will install Italian tiles in the deck to enhance your home’s market value but your bath area or garage still have old-style vinyl tile floors, it will do little to improve your home’s market value.
Online real estate listings could be highlighted by carpeting installed throughout the property, but this may cause your potential homebuyer to cringe at the thought of a home with wall-to-wall carpeting because it is a bit expensive to purchase and install.
And if you come across people who are familiar with how carpets are made, with all the chemicals used to produce them and the risk of attracting allergens, they’d surely turn away from it. This is indeed a serious concern both for children and families.
Invisible projects or those home improvements works that are usually not conspicuously seen by the eyes. These projects are costly and yet they make your indoor space a better space to live in. Such can come in the form of a necessary HVAC unit or a new plumbing system. They may be necessary but don’t expect them to significantly add to the value of your home when it is time to sell it.
When you are a homeowner, it is very hard to imagine that you will be spending a large sum of money for home improvement works and yet in the end you can’t expect those costs to reflect on your home’s market value when you need to sell it.
There is no possible way we can identify what type of project is likely to garner the most bang for your buck. This may largely depend on the style of the house itself, its age, or even the local market.