When deciding to sell, you may have considered doing some renovations to increase the value of your home. It’s easy to get carried away with all the possible options, but not everything you do will actually add value to your home when you choose to sell. To avoid wasting time and money, here’s a list of 4 home renovations NOT worth the effort.
Swimming pools are great for entertaining, but they’re not everyone’s cup of tea. Building out an inground pool can cost upwards of $30k, but don’t have a great ROI. Many buyers avoid homes with pools due to the ongoing cost of maintenance or the predicted cost of removing it so installing one can limit the number of potential buyers you have. Install a pool for your own personal enjoyment, but not for any ROI.
Luxury Kitchen Appliances
Kitchen renovations have a great ROI, but those luxury high end appliances don’t. Going from the mid-range appliances to the Wolf and Subzero appliances of the world may look flashy, but return very little when it comes to resale. Not to mention these pieces of equipment cost many, many thousands of dollars.
Landscaping is great and I always extoll the benefits of curb appeal when it comes to adding value. However, excessive landscaping isn’t worth the time or money. Adding decorative trees, water features, statues, and other items purely for aesthetics don’t really add extra value. In fact, for the same reason maintaining a pool isn’t appealing to many, maintaining excessive landscaping may be a turn off.
Bright and Bold Paint
A fresh coat of paint can definitely be a great way to add value to your home, if it’s done professionally and with simple, neutral colors.
On the other hand, bright and bold colors may add flair and character to a space, but could prevent many buyers from picturing their future home. Remember, buyers are looking for a space to add their own style so we want to provide a blank canvas for them to visualize their future home.
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