7 Home Upgrades That Don’t Add Resale Value
Although customizing your home is one of the most rewarding endeavors you will ever undertake, it can also be incredibly costly. After all, your home is probably your most valuable asset. Therefore, owning and upgrading your home is the most significant investment you will ever have to make. Most owners will likely want to invest in various improvements, from smaller ones like upgrading light fixtures to bigger ones like entire room remodels. However, if you’re looking to resell your home, you must be wary of the home upgrades that don’t add resale value. Even though they might improve your daily life, they won’t add the ROI (return of interest) you may be looking for. Please don’t waste your money on upgrades that won’t pay off when it’s time to sell. Here are 7 particularly notable upgrades that don’t have a good ROI.
1. Intricate landscaping
Although curb appeal does add value to your home, making it intricate and luxurious will not. No matter how much effort you put into it by doing it yourself or how much money you invest in hiring a professional, intricate landscaping will not add resale value. Even if you created an entire amusement park right in front of the home, possible buyers might not be interested in it. Therefore, it is preferable to choose more straightforward landscaping to maintain so that potential buyers will feel like they can add their personal touches to it. And remember, the most important thing is to have a well-trimmed lawn, tidy trees and shrubbery, and possibly a few low-maintenance flowers to keep things interesting.
2. Switching out a bathtub for a shower
When considering home upgrades that don’t add resale value, most people would make a mistake and assume remodeling the bathroom is a good move. But this is not entirely accurate. Yes, remodeling your bathroom can add resale value, but to what degree you remodel it will influence the final ROI. For example, switching out your bathtub for a spacious shower may put off potential buyers. After all, having access to at least one bathtub benefits most families with younger children. Therefore, be aware of the possibility of losing this popular demographic of buyers when it comes to renovating your bathroom before you take your bathtub out of the picture.
3. Expanding a room by eliminating another
Most people, at a certain point, consider changing the overall layout of their homes. It is important to note that such a change can be quite a gamble regarding the added resale value. Although some people might find having a spacious master suite appealing, it might not be worth giving up one other room in your house. After all, the number of bedrooms in your home will significantly impact its price. Therefore, your ROI will surely suffer if you sacrifice other essential living areas to extend one room. Instead of tearing down a room to make more space, consider decluttering before you sell since it can also be a great way to save money. When you get to the process of selling your home, you will need to stage it first. Decluttering can save you time and money if you do it before you are ready to sell.
4. Useful but not immediately visible improvements
There are many home upgrades that don’t add resale value but are quite beneficial to how your home functions. Given that most buyers won’t even see them, these upgrades are frequently referred to as invisible. The HVAC system, plumbing, and wiring should all be upgraded for the home’s longevity and functionality, but how well they perform won’t matter as much to potential buyers as whether they function at all. Another type of invisible improvement is investing in a backup generator. They are excellent safeguards but depending on the area, their addition may not be so valuable in the housing market.
5. Over-customized rooms
Most, if not all, homeowners want to create fully customized rooms that will fully fit their needs. Some examples include a space designated for your new hobby, a sizable wardrobe to keep all your designer items, and an office that can accommodate all your demands as an at-home worker. These upgrades are excellent additions, but unless you sell your house to someone who shares your interests, they won’t increase its resale value. As much as you enjoy these areas, you won’t be able to pack them up and take them with you during your residential Kentucky move; even if you team up with experts, there is only so much they can do. So convert your garage cautiously by knowing the risks involved.
6. Choosing luxurious renovations and fixings
Some people might assume that they will reap great benefits because they invested a sizable sum of money in luxurious home improvements. But they would be mistaken. Even though you might prefer marble flooring, most people probably won’t want to spend more money on it. Even if you spend a lot of money on the sofa, another person might not want to offer more money for your property just because of the sofa. Limiting your home improvements to those that appeal to a larger audience is best. For example, most buyers will appreciate good appliances, well-kept floors, and a comfortable bed to sleep in at night.
7. DIY renovations
DIY projects are a great way to improve your home, repurpose old furniture and reduce the funds spent on upgrades. But, these are one of the worst home upgrades that don’t add resale value. Even if you’ve tried your best, most buyers can tell when something was done by a professional and when it hasn’t. Although you may have poured your blood, sweat, and tears into making that old dresser look appealing, potential buyers may not share the same sentiment. Even if you’ve entirely converted your basement into a rec room, some people may not like how you’ve done it. In these situations, the new homeowners will probably tear out the additions you did and hire professionals to do it all again. So, leave some tasks for professionals, and do not expect your DIY projects to increase the price of your home.