Homeowners tackle upgrades to give their property a new look and boost its value. However, not all home improvements are created equal. While some upgrades can increase your home’s resale price, others won’t recoup the money you spend. Here are five projects that don’t add value to your home.
Projects That Don’t Add Value: Upscale Landscaping
It’s commonly known that improving the landscaping can boost curb appeal and increase your home’s value. However, this advice applies to basic upkeep like trimming bushes, mowing and edging your lawn, adding mulch, and enhancing outdoor lighting. High-end landscaping won’t necessarily offer a good return on your investment.
There are two main concerns with upscale landscaping: maintenance and aesthetics. Just because you love the wrought-iron fencing doesn’t mean a potential homebuyer will too. And while you may enjoy taking care of your exotic flowers, some buyers don’t have the time and energy to care for high-maintenance plants. When improving the landscaping, keep the updates simple to avoid losing money on the project when selling the home.
Another tip regarding home improvement projects is that the upgrades need to be consistent throughout the property – otherwise, they will do very little to improve the value. A home renovated consistently in every room generally has a higher value than one where the upgrades are inconsistent.
For example, if a home has a fully remodeled kitchen with new countertops, flooring, and appliances, but the living room and bathroom are dated, it will feel out of place. Tackle improvements throughout the home to increase its value.
DIY Improvement Projects Don’t Add Value
Even if you enjoy DIY projects, don’t expect such upgrades to boost your home’s value. Potential buyers can spot DIY projects and may question the quality of every component of the home. It’s best to leave updates, like paint jobs and flooring installation, to professionals when you plan to list the house for sale. An expert will be able to complete the tasks successfully and with precision.
Installing a Pool
A swimming pool can be a worthwhile investment if your family enjoys swimming. It provides a perfect place to relax and unwind during the hot summer weather. However, swimming pools don’t add significant value to your property. Potential homebuyers often see them as added maintenance and expenses. They can also be a liability to families with young kids and older adults. Avoid wasting thousands of dollars on a home improvement project that might not recoup your money.
These are costly projects that enhance the functionality of your home and are necessary to make but won’t raise the home’s value. Improvements like a new plumbing system or HVAC unit don’t add significant value because buyers already expect these systems to be in working condition. They will not be willing to pay more for a home simply because you maintained it. It’s wise to make these upgrades to keep the home functioning but not to boost the property value.
Knowing which home improvement projects don’t add value can help you select the best updates for your property. If a particular remodel is something that will bring you joy for a long time, you can justify the cost even if you won’t recoup the money.