Many folks are under the impression that home improvements are necessary before or after you sell your house. However, far from that, not every home improvement idea is worth the money you invest in it.
It is important to first consider the impact of the resale value of your home before embarking on any major home improvement project.
Below, we bring to you a few of the worst home improvement ideas that are a total waste of money:
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While pools will undoubtedly make your home look much better and add grace to the scenery around, they are nevertheless expensive to maintain.
If you are selling a house with a pool, be prepared to do some serious convincing because prospective buyers will literally be turned off by the high insurance and maintenance costs of the pool.
Roughly, in-ground pools cost anywhere from $20,000 to $60,000 and they do not add value to a home. Therefore, think twice before you think of investing in pools.
Sunrooms will make your home a cozy place, but when it comes to adding value to home, you will be surprised to note that their average return on investment is less than 60 percent and this is enough to acquaint you with its poor value.
Nevertheless, you can invest in a less costly deck which will in turn offer higher returns.
3- Master Suites
Unless you are planning to permanently live in your home, then investing in master suite upgrades will make you lose around 40 percent of your total investment (that’s when you sell it off).
Therefore, instead of upgrading the rooms by changing the upholstery, comforters or mattresses, and expensive carpets, you can rather invest in remodeling other parts of the house such as the kitchen or washrooms since they will return a higher investment.
It will obviously make sense if you are adding more garage space in your home due to the number of cars you own. However, when you are planning to sell the same house, many buyers may be put off because they may take the extra garage space to be unnecessary.
5- Reroofing your home
Reroofing your home is only necessary if your roof is actually falling apart and needs to be replaced.
Other than that, if you want to replace your house’ roofing just because you want to add another asphalt layer to it for instance, then you will be making a bad investment choice.
Again, the new replacement will not add value to your home and you will stand to lose more in case you resell it. The better option will be to just fix anything that needs repairing on the roof rather than to replace it entirely.
6- Investing in generators
Investing in generators is a good idea only if you live in areas with lots of power outages. Otherwise, potential buyers will be put off by the high maintenance costs that come with extra generators. Therefore, the returns on investments will be pretty low if your home is in an area that rarely uses generators.
In conclusion, the above six blunders should be avoided at all costs if you want to your home to have more resale value.