Worst Home Improvement Projects to Expect ROIBy Teresa Cowart in Blog,For Home Sellers,For Homeowners,Home Sale Preparation. Tagged: Home Improvement • Homeownership • Prepare Home for Sale • Real Estate • ROI • Teresa Cowart
Beginning home renovations will always bring the question, “ Is it worth it?” Trends, market demand and neighborhood competition will all be factors to take into account when determining whether your home renovation will bring a worthwhile ROI. Consider these projects that may seem like good investments but have a low return.
Who wouldn’t want a swimming pool right? That is a common assumption among homeowners looking to upgrade. While having your own backyard pool to cool off during hot summers seems ideal, the fact is it comes with baggage. Increased liability and maintenance to keep the pool running are two good reasons why home buyers may think twice about paying more for a home with a pool. Pools are very expensive to have installed and it is rare that you will get that same amount back in the value of your house.
Gone are the days of stacks of paper and folders used in daily work life. Computers, smartphones and mobile devices have replaced a good amount of physical items that would otherwise be housed in a home office. Creating a home office will rarely produce a higher resale value. Not everyone needs a home office and is willing to pay a premium for a house with one. Adding a family room may be a more profitable option!
Luxurious Outdoor Patios
Outdoor kitchens, fireplaces and living areas can be fantastic to relax in during the warmer months but what function do they have during the colder seasons. This is why investing in a top-notch outdoor patio in four-season location may not be the best option. Homeowners will not want to pay more for a feature in their home they can only use a portion of the year. Doing some nice landscaping, and adding a simple patio or wood deck may be the better route to higher return.
State of the Art Media Room or Theater
Having a home theater with a built in big screen television and various media sounds like a great recreational feature for a home. Today, however, as fast as technology is developed, it is outdated in a matter of months. Investing thousands of dollars into models that will soon be outperformed will end up in big bills with little return.
Sacrificing Bedroom Space
Cutting out a small bedroom and using it to enlarge a master closet or bathroom seems enticing but the bottom line is most homeowners would prefer more bedrooms. Your home should have a nice balance of bedrooms and bathrooms, especially when comparing to neighboring houses.
If you are going to invest in upgrades or improvements to your home, here are four excellent choices that don’t break the bank but still have great ROI.
Minor Kitchen Renovation
The top two rooms most important to home buyers are kitchens and bathrooms. Investing in a minor kitchen face-lift is affordable and will bring an increase in appeal to buyers. A minor kitchen make-over involves the counter tops, appliances, sinks and hardware. The floors and cabinetry are not touched at all. This is enough renovation to give the kitchen a newer and fresher appearance to buyers!
Bonus Reading! How to Make Your Small Bathroom Look & Feel Larger
Curbside appeal is very important when selling your home so keeping the outside updated and tasteful can make a big difference. Replacing your siding can really improve the overall look to your home. Vinyl siding is the most affordable and easiest to install!
Windows affect not only visual comfort and lighting but also energy conservation. Old windows are very inefficient when it comes to heating and cooling your home. Putting in all new windows will be a very functional and appealing renovation to home buyers. They look nice and they help keep energy bills down!
The front door is another big factor affecting curb appeal. Fading paint, rusted metal and old trim are all common signs of wear and tear of a door. Giving an entryway a brand new, shiny door will look fantastic to home buyers and is very low-cost!
Keeping your renovation costs down and remembering the above guidelines will set your home renovation projects on a path to success!
Here are a few more easy and affordable ways to update your home.
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