Customizing your house is one of the most exciting parts of homeownership, as you can transform the space into the perfect home for your family. However, some major projects may backfire if the property value stays the same or decreases after making your improvements. Here are a few projects that don’t add value to a home. If a good return on investment is important, you might want to rethink these updates.
Projects That Don’t Add Value: Luxury Kitchen and Bathroom Upgrades
If you love cooking elaborate meals for your family or enjoy long soaks in a spa-sized bathroom, you likely will appreciate luxury kitchen or bathroom renovations. However, don’t expect the cost to reflect in the house’s value.
Many potential buyers won’t see value in high-end kitchen appliances or a spa tub and luxury shower in a large bathroom. For a better return on investment, focus on more straightforward upgrades like fresh paint, new energy-efficient appliances, hardwood flooring, or a kitchen island.
Installing a Hot Tub or Swimming Pool
Homeowners who love to entertain friends during the summer or spend money on frequent visits to the pool or waterpark might consider installing a pool. While that may seem like a good idea, pools involve costly upkeep and maintenance. You’ll be responsible for establishing and maintaining a pool fence, water treatment chemicals, and regular pool cleaning. Some buyers want a pool, but most are not interested in the constant attention that a swimming pool or hot tub requires.
Outdoor Projects That Don’t Add Value
Landscaping and hardscaping home improvement projects are costly and require ongoing maintenance and care to keep them attractive and functional. Features that add to your enjoyment, like a fountain or gazebo, are more work and responsibility for prospective homebuyers.
Let’s look at ways you can boost the value of your property on the outside.
- Hire a professional landscaping company to care for your lawn, edge your garden beds, and handle tricky tasks like pruning.
- Add fresh mulch around the base of trees and shrubs.
- Install a patio or deck.
- Plant trees a safe distance from the home.
- Use landscape lighting to highlight architectural features and improve the safety of walkways and your home’s security.
- Design and construct a fire pit in the backyard.
Custom Closet Remodels
Walk-in closets are a feature that many homebuyers expect. However, there is a difference between a versatile walk-in closet and a custom closet that cuts into square footage with dressing areas, built-in shelving, and oversized mirrors that only appeal to a specific type of buyer. Closet remodels can easily cost five figures on average, and your home’s value will only raise a small fraction.