You’ve just bought a house and are ready to make it your own. However, it’s necessary to understand that not all upgrades increase the value of your property. Of course, you’re welcome to tackle updates and improvements to make the home more appealing and functional for your family. Let’s look at a few of the most common home improvement projects that won’t increase property value should you decide to sell the house.
Projects that Won’t Increase Value: Swimming Pools
One of the homeowners’ biggest mistakes is installing a swimming pool to increase their property values. While it may be fun for you and your family, potential buyers can be deterred by the cost and maintenance associated with a pool. Some buyers may consider a swimming pool a safety hazard, especially if they have young children.
Converting the Garage
Transforming a garage into a bedroom is a project some homeowners undertake to create additional living spaces. However, it’s not an improvement that will add value when it comes time to sell the house.
Most prospective buyers will be more interested in a usable garage to store their car and lawn equipment. If your family needs an extra bedroom, consider renovating the attic or adding a build-out for additional space.
Projects that Won’t Increase Value: Kitchen Upgrades
Upgrading your kitchen is great for aesthetic purposes, making the room more comfortable and functional. But you may be disappointed if you hope to recoup much of the costs associated with replacing cabinets or countertops. Luxury kitchen upgrades don’t offer a good return on investment simply because buyers expect the kitchen to be fully functional. High-end appliances and expensive marble countertops won’t add much to the home’s value.
While attractive landscaping adds curb appeal and beauty to your yard, extensive landscaping with exotic plants and hard-to-maintain features won’t boost value. Certain features may not appeal to buyers, especially if they are expensive to maintain or require specialized knowledge or equipment for upkeep. Examples include waterfalls, rock gardens, fish ponds, and elaborate landscape lighting systems.
Not all improvement projects will increase property values when it comes time to sell your home; however, some do. Projects that improve aesthetics and resale value include painting, replacing floors with hardwood or luxury vinyl tiles (LVT), updating bathrooms, and adding energy-efficient windows. So while some projects won’t help boost resale value, plenty more will. As you choose upgrades for your home, plan to maintain your property to get the most out of your investment.