Why might you renovate or improve your home? To either make it more functional, comfortable, and enjoyable for your family, or to make it more attractive to prospective buyers.
Unfortunately, some home improvement projects may seem great on the surface, but can actually hurt you in the long run.
Here are projects that can make it harder to sell your home since they can decrease its value:
1. Swimming Pools
Pools are money pits. And while they can be a cooling and eye-catching addition to your home, here are specific reasons why you might want to skip on that backyard oasis:
- High installation/construction costs.
- Time-consuming and costly to maintain.
- Create hazards for young children and pets.
According to HouseLogic, installing an in-ground pool can increase a home’s value by an average of seven percent. That’s not a huge increase when you consider all the work and expenses that are involved.
Oh, and if you think installing an above-ground pool is a safer, less expensive route, know this: Some buyers prefer to have such pools removed before purchasing a home.
In short, they can be seen as more of a nuisance than a benefit.
2. Garages
If you’re thinking about building a standalone garage to give your home some automobile storage space, hold that thought.
Building standalone garages can break the bank, as their average cost ranges from $20,000 to $40,000.
Will you recoup that cost when selling your home? It isn’t very likely.
3. Unique Décor
Whether it’s odd-colored paint or really weird tile, think twice before installing something that most of the population may see as an eyesore.
The more neutral the décor, the better, especially if you’re looking to sell soon.
4. Built-In Entertainment
If you’re a movie fanatic, installing a home theater may seem like a smart move. That prospective home buyer may not feel the same, however.
They may not want to pay a premium for such a space that could be used as something else or could increase electricity costs. Like a pool, this luxury could turn into a burden.
5. Carpeting
Carpet can look nice right after it’s installed, but after some time, it can show signs of wear.
For this reason, many people now prefer tile or wood flooring, as it can maintain its look and be easier to keep clean.
If you install wall-to-wall carpeting, know that a possible buyer may get turned off once they see it.
6. Bathroom Upgrades
You may see the bathroom as your sanctuary, and this may move you to install a tub or jacuzzi that’s anything but cheap.
How much of that expense can you recoup? Not much of it, according to some experts.
Add on to your bathroom, and you may recover around half of what it cost to install. Even worse, a buyer may not see something like a jacuzzi, for example, as functional and fitting their lifestyle.
As with other items on this list, the simpler, the better, unless you plan on living in your home for decades to come.
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