Some home improvement projects can pay off big time at resale. Upgrading your kitchen, flooring, or mechanical systems in your home all increase the sale price of a home. However, putting money into your home doesn’t guarantee a higher value. Here are 5 home improvement projects to avoid if you’re hoping to sell soon.
Adding a Swimming Pool
This is such a bummer. I fantasize about installing a swimming pool every single summer. Unfortunately, many buyers balk at the maintenance cost and potential safety hazards of pool. Families with young children can be fearful of drowning risks associated with pools. In spite of the fun of a pool, maintenance is intimidating for lots of folks, too. Swimming pools are pricey to install and buyers are unlikely to pay that much more for a home that has one.
When you are planning your home improvement projects, keep your neighborhood in mind. Springing for a $100,000 custom kitchen remodel is all well and good, but if you depart too much from the average home price in your neighborhood, you do yourself two disservices. First, buyers looking in your area may not be able to afford a home at a higher price point. Second, buyers who can afford a more expensive house may be looking in ritzier areas.
That one-of-a-kind purple glass sink may be the prettiest thing you’ve ever seen, but installing it in your bathroom may not be the best way to entice a buyer. spending big bucks on super-customized permanent features in your house will alienate buyers who don’t share your aesthetic. Think twice before adding those features to a home you’re planning to sell.
Repurposing a Bedroom
Home buyers are often looking for some basic features for their potential home. Things like number of bedrooms and bathrooms. If you’ve converted a bedroom to a custom closet area, or removed a wall to create a second master bedroom, you may be off some buyers’ lists. Bedrooms and baths are integral to a home’s appraisal, so think twice before you eliminate one.
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