Homeowners make changes and improvements to their property for several reasons including to increase aesthetic appeal, provide mechanical upgrades, and boost the house’s value. Regardless of your intentions, it is vital to know what your home needs so that you don’t end up undertaking a project that is a waste of money and adds little utility or value.
Before starting any house renovation project, make sure you carry out thorough research to see what improvements can raise your property value. Check out these home upgrades that would cost you a pretty penny but offer low returns when it is time to sell your home.
Building an aquarium into the wall or cabinets of your home will make your home look beautiful. However, these stunning upgrades can turn off potential buyers because not everyone wants to deal with the high cost of maintenance.
As expensive as it is to install a swimming pool, it does not significantly increase the value of your property. A swimming pool requires constant attention and many home buyers can’t deal with the upkeep. Apart from the high maintenance, home buyers that have little children see pools as a potential danger because of the fear of drowning accidents.
Having a floor-to-ceiling media center may look stunning and fit your love for big screens and entertainment, but some potential buyers may view it as a drain of energy costs and a waste of space. A high-end surround sound system or home theater doesn’t work for everyone and may limit your pool of potential buyers. Besides, electronics change year to year, so anything you install will be out of date by the time you sell.
Even though freelancing is now common, and everybody seems to be working from home, adding a home office is a bad idea. Prospective buyers may be turned off by a room that can’t function or substitute as an extra bedroom. However, if there is already a home office, keep the room simple; a chair, desk and good lighting are enough. Keeping the area simple will allow buyers to visualize the place for another purpose easily.
Adding waterfall showers, imported tiles, hot tubs, steam room, or a sauna will cost you a lot of money but rather than attracting buyers, these luxuries will scare off many of them. You should consider doing more in the kitchen to which more buyers are likely to pay attention.
Installing an over-the-top chandelier
Every buyer wants to buy a home with bright light, but if you empty your wallet buying an expensive chandelier, you probably won’t get a dime back. Chandeliers are something of a personal choice. You may spend thousands of dollars to install it, only to have it removed after you sold your home.
Consult your real estate agent to find out what home improvements are in high demand in your area before starting your next home renovation project.