What Renovations Do Not Add Value to Your Home?
Whether you’re planning to sell your house or stay in it, you need to consider what renovations do not add value. Over-customization can actually detract from your home’s value. For the best chance of selling your house, try to keep your home neutral and tone down any personal touches.
Renovating the most visible parts of your home
If you’re thinking about renovating your home, there are some things you should know before you begin. For one thing, there are some renovations that add the most value to your home, while others are less exciting. For example, replacing plumbing or electrical systems isn’t a glamorous renovation, but it’s important to your property’s value.
Bathroom remodels
While you can increase the resale value of your home by making cosmetic changes, some home improvement projects do not add value. Bathroom remodels are a perfect example. Approximately 26 percent of sellers make improvements to their bathrooms before they sell their property. While this may help you sell your home faster and for a higher price, it is not a guarantee that you will increase the resale value of your home. Nevertheless, a small bathroom makeover can help you increase the value of your home by as much as $1.71.
Kitchen remodels
If you’re considering remodeling your kitchen, it’s important to understand whether it adds value to your home. According to Better Homes and Gardens, a new kitchen can increase the value of your home by around 52%. However, your ROI will vary depending on the type of kitchen remodel you choose, the price of similar houses in your area, and the quality of the remodel itself.
Sunrooms
If you’ve considered adding a sunroom to your home, you may be wondering whether it will add value to your home. You’re not alone. Adding a sunroom to a home can make it appear larger and therefore increase the value of the property. Not only will it give you more living space, but it will also allow you to enjoy the great outdoors. This is particularly useful in Alberta, where the winters are very long and cold. A sunroom will also help you enjoy the fresh air during the coldest months.
Pools
When considering a renovation, you may wonder whether a pool can increase the value of your property. After all, swimming pools typically have only about 50% of their original value. However, some renovations, such as adding a rock feature or a tanning ledge, can increase the pool’s appeal. In addition, you may want to consider upgrading plaster or tiles. Lastly, remember to consider the cost of pool maintenance and repairs.
Custom renovations
If you’re thinking of selling your home, you’re probably wondering whether or not it is worth it to make a few custom renovations. Although the results may be stunning, over-customizing your home can actually detract from its value. Instead of focusing on customizing every inch of your house, consider opting for neutral tones and tone-down your personal touches.
