If you plan on moving in two to three years, don’t invest money in home improvement projects that won’t increase the resale importance of your home.
Some of these low-value home improvement projects include:
1. Gourmet Kitchens with High-End Accessories
While you might love your $10,000 commercial stove, and top-of-the-line Tuscan tiles, these expensive additions don’t pay off when you list your home for sale. If you plan on moving within the next 3-5 years, and you desire to remodel your kitchen, invest in quality, serviceable appliances that appeal to various people. In general, too much customization in a residence turns buyers away.
It may sound fun and relaxing to take a warm bath after a long workday, but potential buyers will not pay extra for a newly installed whirlpool bath. In addition, the cost for installing a whirlpool tub can be prohibitive. Many homeowners install luxury bathtubs, only to discover they want to invest in a larger hot water tank for the tub to work properly. Furthermore, installing a tub might result in high energy bills, and additional monthly maintenance costs.
This home improvement project goes straight to my heart; I really desire a sun room. Unfortunately, this expensive project adds very little to a home’s value. A sun room just recoups $486 for every $1,000 spent on construction, or 49%-59% of the initial investment. In addition, glass doesn’t give insulation, thus a sun room also raises energy costs in the winter and summer.
Landscaping may transform the way your house looks, especially to potential buyers. However, going over the top to create a backyard paradise, while good, won’t add to your asking price. If you plan to stay in your home for a while, this project may improve your quality of life, especially in the warmer months. If you plan to sell your house, you won’t recoup the cost of expensive landscaping in the sale.
However, adding another bedroom to your home is the simply exception to this rule. An additional bedroom makes your house appealing to a whole new group of buyers. Save money on renovations through dividing a large space through a wall, in order to form an extra room. In order to qualify as another bedroom, the room will require some other additions, including a window and a closet. You may also consider bedroom interior design ideas on a budget.
Roofs do need replacing eventually, and the consequences of waiting could be very valuable, including ruined walls, mold, and mildew stains. Most experts say you just receive 55%-60% of the cost to replace a roof when you sell your house. Conversely, a damaged roof or an old roof can turn prospective buyers away. A new roof can make your house look crsp to prospective buyers, and help you stay competitive in the market.
According to real estate specialists, some necessities, including a new septic method and new plumbing, do not generate more income when you sell your house. Buyers desire to know that the sink and toilets work, but most of them don’t concern themselves with the specifics.