Renovations to Reconsider
Updating your home can be fun and exciting, but,if you are not currently in your forever home, you may want to consider a few of these renovations before you go ahead with them. Although amazing for you, when it comes time to sell, you will surely want to attract many buyers!
In-ground swimming pools can cost $30,000-$75,000, depending on the type and style of pool you wish to install. A swimming pool may be a great idea for your family, but a swimming pool may make your home harder to sell. Some families with small children will rule your home out because of the pool, and others may rule out your home due to the added maintenance cost, as well as higher insurance.
2. Gourmet Kitchens
A state of the art professional stove and fridge may be exactly what you are after, but these costly items may not pay off when you decide to list your home. Again, if moving in 3-5 years is possible and you wanted to do some upgrades in your kitchen, invest in quality appliances. High-end repairs are costly, and the look might not be for everyone. This can turn some buyers away.
As always, staying on par with the rest of the neighborhood is a great idea. Too many high-end additions will cause your home to be the most expensive on the block. You can recoup a fair price on a kitchen upgrade, but in addition, fancy and you may not get what you are after.
3. Sun Room
Sunrooms may seem like a fantastic idea, but this expensive project adds very little to the value of a home. A sunroom only recoups approx. $485 for every $1,000 spent on construction, or 49%-59% of
4. Home Office
Most people do not need lavish and large home offices. The average office renovation can run you around $15,000. You may receive only a 43% ROI for this remodel. As we all know, technology changes and lightning speed, and will likely not matter to buyers come time to sell.
Most people only need good lighting, and room for furniture. Unless you work at home full-time, you may want to scale back, or forgo this upgrade all together.
5. Jetted Tubs/Whirlpool Baths
Having a long bath after a hard day may sound amazing, but potential buyers will not pay extra for a newly installed whirlpool bath. In addition, the cost of installing one may be more than you think. Tons of homeowners install beautiful bathtubs, only to find out they need to purchase in a larger hot water tank for the tub to function. Installing a tub may elevate your energy bills, and the cost of repair is much higher.
I hope that these tips can help you when it comes to your next big renovation!