In this installment on home improvements we will look into renovations that homeowners make that do not increase the value of their homes. There are a variety of home remodeling projects that homeowners choose that do not increase the value of the home. This is especially true if the homeowner is looking to sell their home within the next two to five years. When this is the case a homeowner looking to maximize the equity in their home it is a good idea to hold off on any renovation that will not increase the home’s value.
Many homeowners believe that installing an in-ground pool will increase the value of their home and property. An in-ground pool is however a pricy endeavor that actually does not bring any value to the home during a sale.
It is expensive to for the pool to be designed, the safety fence installed and additional, expensive maintenance is needed to upkeep the pool throughout the season. These expenses are on top of the cost associated with the opening and closing of the new pool each year. Home improvement experts advise that homeowners stay away from installing a pool unless it is an improvement that will add value to your family. A pool, in fact, limits the marketability of your home.
Consider that most people with young children are fearful of pools for the fact that drowning is a top accident among young children. Seniors citizens aren’t interested in the upkeep of a pool which leaves your home to be marketed only to families with pre-teens and teens. The money you put into the pool will never be recouped through the sale of your home. This project will always be a loss for the original homeowner.
If the floor plan in your home has little rhyme or reason, it will be more difficult to sell your home. Large, open floor plans have added appeal to buyers. Homes with small bathrooms and bedrooms, along with floor plans that require you to access bedrooms or bathrooms through another room really detract most buyers. The flow of your home should be one that makes sense. Avoid renovations that close off space within your home. The kitchen should connect to the dining room and if possible a laundry room should be off of this area as well. Living rooms should share a space with dens and studies. Bedrooms should have access to bathrooms and avoid being in the space near the living room, kitchen area or dining room.
Home renovations that overly personalize your home should also be avoided. Home buyers are looking to see themselves and their belongings in the spaces they are looking into purchasing. Smart realtors will ask sellers to remove the personal touches within their homes to increase the marketability of the home. If you love bright colors by all means paint and enjoy bright décor knowing that when it comes time to sell you will be investing in neutral paint and décor to stage your home. Bright colored walls is an expense that you should take on as a homeowner only if the enjoyment the colored walls will bring is worth the cost of the renovation; all while keeping in mind the expense of painting the walls a neutral color when the home is up for sale.