Many people buy properties as investments, looking to renovate them and then sell them quickly for a profit or maybe you are considering doing some renovations in the hope of increasing your profit when you sell your home. Some home improvements such as adding a family space or a high tech kitchen can be wise investments but there are some renovations that allow little opportunity for you to recoup your costs.
- Swimming Pools – surprisingly they don’t add much value onto your home, they can make your home more saleable but you don’t see much on your return on investments. The average cost of an in ground pool with a deck is around $30-40,000. When selling your home parents are often put off by a pool unless you have installed security systems!
- Overbuilding for your community – While it is good to feel like the big fish in a small pond it won’t do anything for your re-sale value. Every community will have a price ceiling for it so make sure you don’t keep adding on rooms and exceeding that ceiling unless of course you are staying in the home forever and not looking to recoup your costs!
- Extensive landscaping – A well maintained yard can be an asset when selling your home but doesn’t usually feature very high on buyers wish lists. A very elaborate style can be a turn off as buyers consider the amount of maintenance time to keep it looking pristine.
- High End Upgrades – Any upgrades should be consistent with the style and age of the property and community 6kssrd3. Buyers for million dollar homes would be looking for these upgrades but they aren’t necessary in modestly priced homes.
- Wall to wall carpeting – this tends to follow the current trends for interiors. For the past few years carpeting in the living read has been seen as a turn off for most buyers who prefer wood or tiled floors. Carpeting is perfectly acceptable in bedrooms but never in bathrooms!
If you are considering renovations with a view to selling your property always ask either your Real Estate Agent or Home Stager first, they will be able to guide you to the best improvements that will give you the best return on your investments.