There are plenty of projects you can undertake to boost your home’s value, and more than a few offer the potential to double your return on investment. Some of the best home improvements that deliver the best ROI include garage door replacement, deck addition, kitchen remodel, bathroom upgrade, and more.
But for each improvement that yields fantastic results, there are a few that won’t. Here are a few examples of upgrades to avoid. Not only will they fail to raise your asking price, they might even bring it down.
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Swimming pool
Sure, a swimming pool can be a lot of fun but it’s a high-maintenance feature that requires around $30,000 to construct and $4,000 annually to maintain. Considering these costs, plus the fact that many homebuyers consider swimming pools a liability rather than a luxury, you are unlikely to increase the value of your home by building a pool.
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Extensive landscaping
While a nicely manicured lawn will help your property attract more potential buyers – think curb appeal – more elaborate landscaping can be a turn off. Like a pool, a fancy garden can be viewed as a maintenance issue more than a desirable feature. If you must improve your landscape, do so for your own personal enjoyment, not because you want to recoup your investment come selling time.
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New HVAC or roof
Buyers will be more attracted to a home with an updated heating and air conditioning system – but you would be hard-pressed to find a buyer willing to pay for it. The same goes for roof replacement.
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Over-the-top design elements
Outlandish tiles, overly stylized doors, neon-colored walls – while you may find that these design features reflect your unique personality, they may serve to limit the appeal of your home for sale. None adds to the value of your home. The key to selling a home is to keep things neutral – paint the walls in muted colors, get rid of personal effects – to make it easy for buyers to picture themselves living in your house. A subtler design approach will make it easier for the future owner of your home to apply their own preferences.
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New floors
Installing a new floor is expensive. And if you’re only doing it because you’re betting on raising the asking price of your home, rethink the upgrade. Rather than replacing your floor entirely, it would be wiser for you to simply give it a refresh. A little sanding and coating can make wooden floors shine like new. You can also regrout tile floors. Of course, if your floor is damaged, you need to have it replaced. Make sure the new floor you choose has a neutral design.
Not sure which upgrade to undertake? The Noel Team has the experience, knowledge, and tools that enable them to sell your home at the best possible price. Our team is known for our dedication to meeting and exceeding our clients’ expectations. If you’re in Colorado, call 303.774.9400 or email sjnoel(at)remax(dotted)net today to learn how we can make this happen.
