When planning upgrades for your home, it is easy to get caught up in the excitement of home improvement projects. A few small things can quickly turn into a long list of to-do items, resulting in a higher budget and more time to make these improvements.
There are many benefits to home upgrades, but you should consider your goals for the project to be sure the tasks line up. If you are planning these upgrades to improve the value of your home, then there are actually a few things that you should skip. These upgrades will likely end up costing you quite a bit of money without adding a significant amount onto your property value.
Just because you make upgrades on the home, doesn’t mean that you’ll profit! Here are a few things that you should skip:
It might seem like a luxury to have a pool in the backyard, but some home buyers find that a swimming pool is too much maintenance and hassle. In fact, some potential buyers might look elsewhere if they don’t want a swimming pool that will be potentially dangerous to their young children. You will pay for the cost of the pool installation as well as the ongoing maintenance, and it isn’t likely that the full amount will be recovered in the price of the home when it sells.
Unusual Custom Features
Just because you have a dream of how the kitchen should look, doesn’t mean that it is everyone’s cup of tea. There are many situations where these details don’t matter to home buyers, so they aren’t interested in paying for unneeded upgrades. One example is an ornate countertop edge compared with a basic beveled countertop edge. It costs quite a bit more to install the upgraded countertop, but the upgrade won’t have much of an impact on the value of the home.
Numbers matter, and most buyers are interested in the number of bedrooms and bathrooms within a home. If you plan to change the floorplan in any way, then you need to consider how these changes will impact the stats for the home. Even if you have a dream of a giant walk-in closet, it might not make sense to knock out the wall to the next bedroom, because it might bump your listing down into the lower price-range bracket.
High-End Upgrades in an Average Neighborhood
Adding many high-end upgrades to an average home won’t increase the value as much as you want. You need to consider the quality of the other homes in the neighborhood to determine the base level price range for the area. If you spend $15,000 in home upgrades, it might only bump up the price of the home by $10,000 or $5,000 depending on the neighborhood where you live.
So, talk with an expert real estate agent first to get a feel for the area. At Duffy Realty of Atlanta, we are here to help you sell your home quickly and easily. Call us for more information: (678) 318-1700