Expensive Home Projects You Might Regret
Once you become a homeowner, you have more freedom to make renovations and to personalize your home. Some of the changes may be small, but they still make an old house more modern. If you plan on selling your house in the future, you should avoid some of the below projects before you start remodeling. They just aren’t worth the money. When you calculate your project budget, keep the total no more than 10% of the current value of your house. If you spend more, count the profit in terms of personal enjoyment.
Built-in Aquariums – They look beautiful, but they aren’t appealing to all potential buyers. Not everyone wants to deal with the upkeep which makes it an impractical investment. Aquariums are at the top the list of improvements with poor return on investments.
Built-in Electronics – Technology is growing rapidly. Because of that, today’s shiny new gadgets quickly become a thing of the past. This makes built-in electronics a bad investment. By the time you try to sell your house, the standard TV size will be larger and won’t fit in the built in space.
Removing a Bedroom – An expanded master bathroom or a walk-in closet is a selling point, but only if that space isn’t stolen from a third or fourth bedroom. The rule of thumb when remodeling is to stay within your neighborhood norms. If the neighborhood standard is three bedrooms, then your newly renovated two-bedroom house with a large master walk-in closet is at a huge drawback.
Extensive Outdoor Renovations – Having an outdoor kitchen with fancy grills and countertops can only be used up to ten months of the year in warm climates. In the Midwest, a fireplace would be a better investment. Always make sure your renovations are appropriate for your homes environment.
Home Offices – More and more people are starting to work from home but adding a home office is usually not a good idea. Buyers may not be interested in a room that can no longer function as an extra bedroom. If you currently have a home office, keep the area simple with just a desk, chair, and good lighting. You want potential buyers to be able to easily imagine the room being used for another purpose.
Pools, Hot tubs, Spas and Luxury Showers – Similar to the built-in aquarium, these unique features will only attract a limited amount of people. Installing a pool or hot tub usually will not help raise the value of your home. However, it will add a luxury value, but you probably will not regain your investment.