Photo credit: The Balance In fact, these improvements may turn buyers off By: Elizabeth Weintraub Homeowners often assume that upgrades and renovations always make their place more
In fact, these improvements may turn buyers offBy: Elizabeth Weintraub
Homeowners often assume that upgrades and renovations always make their place more valuable and sellable. But many home improvements do not, in fact, add value to the home — and in some cases, could even act as a detriment if and when the property goes on the market. Here are the seven of the most common.
Extensive Professional Landscaping
You can build an entire amusement park in your backyard and it won't bring you big bucks upon resale. If you want to put in a waterfall that cascades down into a Koi pond, for example, do it because you enjoy the water feature, not because you're hoping to recoup the investment. Landscaping choices are a personal preference, and all the hand-crafted bridges and unique pergolas in the world won't dramatically boost your bottom line.
Upgrading the Utilities
Although you may have paid thousands to install copper plumbing or replace the sewer or upgrade the electrical wiring from aluminum to Romex, it's unlikely to bring you more dollars. These types of improvements are considered maintenance — and your neighbors probably made them years before you. Of course, getting everything state-of-the-art isn't a bad idea: In certain quarters, that's considered standard, and without it, you could take a hit when selling time comes. Just don't think these upgrades let you mark up the price tag.
New Roof or HVAC
Some buyers in the marketplace appreciate a home that features a brand-new furnace or HVAC system, but they won't pay extra for it. Ditto regarding a new roof: Replacing a roofpast its average life expectancy of 30 years is considered a maintenance issue. It's like expecting to get paid more because you swept off the front steps.
Swimming Pool or Personal Spa
The TV commercials for water-related improvements depict nonstop frolicking among kids in the pool (zero focus on drownings) or late-evening soirées in the hot tub sipping adult beverages. Sadly, though, the cost and expense of aquatic amenities never find their way back into your pocket. Many people won't buy a home with a swimming pool; they don't want to deal with the upkeep or safety issues. In fact, as part of negotiations, a buyer might insist that you tear out the pool or whirlpool. If you want to install a pool or spa, do it because you will enjoy it.
Making Dated Decor Changes
You might like white appliances or white ceramic counters, for example, but young home buyers do not. Those are no longer "in." Same thing with carpeting, unless it's exotic and high-end — and don't even go down the road of gold-toned bathroom fixtures and door hardware. Even 12-inch-by-12-inch ceramic flooring has lost its appeal. The point is, don't deliberately decorate in the latest style for resale reasons. Fashion just changes too fast.
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