Today I’ll be discussing the five worst home updates that a homeowner can do. Avoid these to keep yourself from wasting money on projects that bring poor returns.
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We often talk about the best home renovation projects that people do to add some value to their property; today, let’s discuss the worst. These are five home updates that you should avoid if you don’t want to invest more money in your renovation than these projects are worth.
1. Over-the-top improvements. Before your minor upgrade turns into a home improvement disaster, ask yourself whether potential buyers in your area are likely to pony up for some posh upgrades. Unless you’re planning to stay in your home forever, we would suggest forgoing that steam shower and carved marble tub.
2. Home office overhauls. Home offices don’t generally pay off in resales, but if you’re working from home, they’re a must. Keep the structure of the space intact, especially if your office was once a bedroom or garage; those rooms can easily be restaged when it comes time to put the house on the market.
3. Swimming pools. They’re great to have, but they’re really controversial from a buyer’s standpoint. Pools are neutral to some people, and some people just hate them and won’t even come look at your home knowing that you have a pool.
4. New roofing. Replacing your roof can help with resale, but don’t go overboard with the material—clay, tile, and architectural shingles don’t usually have as much of return on investment. If you’re in a townhouse or condo development, make sure that you check with them before replacing your roof, as some might require you to use certain materials.
5. Specialized spaces. There is a limited audience for certain upgrades like wine cellars, slides that go between floors, and playrooms.
My overall advice when it comes to home upgrades: Just keep it simple!
1. Over-the-top improvements. Before your minor upgrade turns into a home improvement disaster, ask yourself whether potential buyers in your area are likely to pony up for some posh upgrades. Unless you’re planning to stay in your home forever, we would suggest forgoing that steam shower and carved marble tub.
2. Home office overhauls. Home offices don’t generally pay off in resales, but if you’re working from home, they’re a must. Keep the structure of the space intact, especially if your office was once a bedroom or garage; those rooms can easily be restaged when it comes time to put the house on the market.
3. Swimming pools. They’re great to have, but they’re really controversial from a buyer’s standpoint. Pools are neutral to some people, and some people just hate them and won’t even come look at your home knowing that you have a pool.
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Just keep it simple!
”4. New roofing. Replacing your roof can help with resale, but don’t go overboard with the material—clay, tile, and architectural shingles don’t usually have as much of return on investment. If you’re in a townhouse or condo development, make sure that you check with them before replacing your roof, as some might require you to use certain materials.
5. Specialized spaces. There is a limited audience for certain upgrades like wine cellars, slides that go between floors, and playrooms.
My overall advice when it comes to home upgrades: Just keep it simple!
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