Six Home Improvement Projects to Avoid
Homeowners are always looking for ways to increase the value of their property. Not all renovations, however, are created equal. In fact, some home improvements can end up costing more than they add to the value of the home. Here are six home improvement projects to avoid:
- A swimming pool or hot tub
While a pool or hot tub is a nice addition to your home, it is also a significant liability. Pools can be costly to maintain and can raise your insurance premiums. Furthermore, a pool may be viewed as a safety hazard by potential buyers, especially if there are small children in the home.
- Expensive professional landscaping
A well-landscaped yard can add curb appeal and increase the resale value of your home. Expensive professional landscaping, on the other hand, is frequently cost-prohibitive and may actually deter potential buyers who do not want the hassle or expense of maintaining it.
- Installing a roof deck
Roof decks certainly have their appeal, but they also come with a host of potential problems. For one thing, they can be dangerous (especially if not built properly).
Furthermore, they often void most homeowners’ insurance policies and can lead to leaks and other damage to your roof.
- Converting a garage into living space
Many homeowners want to convert their garage into an extra room or living space. However, this conversion usually decreases the resale value of your home because potential buyers will view it as an extra expense that they will have to incur should they want to use the space as a garage again.
- Adding too much square footage
Believe it or not, adding too much square footage to your home can actually decrease its resale value. This is because the cost per square foot of your additional living space will be higher than that of comparable homes in your neighborhood—making it less attractive to potential buyers.
- Skimping on trends
It’s important to stay up-to-date on trends in both design and technology when renovating your home if you want to maximize its resale value. However, you should avoid going overboard with trendy features as they may quickly become dated and unattractive to prospective buyers down the line.
These are six home improvement projects that you should avoid if you’re looking to increase the value of your property. While some projects may seem like a good idea at first, they could end up costing you more money than they add to the resale value of your home. So, before embarking on any major renovations, be sure to do your research and consult with a real estate professional to ensure that you’re making wise decisions that will benefit you in the long run.
