Think Twice Before Spending Big Money On These Home Improvement Projects
Whether you’re planning to sell your home soon or you plan to stay long-term, you may be thinking about investing in home improvement projects to increase your home’s value. Real estate professionals caution that, while projects like kitchen upgrades and exterior door replacements are always solid investments, other projects may weaken your financial footing for resale. Think twice before tackling the following common projects.
Adding a bedroom – in the garage
Utilizing garage space to add another bedroom – or even a home office – might seem like a great way to increase the square footage and market value of your home, but beware the possible unintended consequences. Many buyers often put a premium on garage space, especially if the home is located in an area with frequent snowfall.
In-ground swimming pools
For many buyers, swimming pools look less like a relaxing day in the sun and more like annoying seasonal upkeep. The truth is, pools suggest both a monetary maintenance cost and a time commitment that isn’t at all attractive in many real estate markets. Additionally, pools are often viewed as a safety hazard by families with children or pets, and may be a deal-breaker for some prospective buyers.
Too much landscaping
It’s one thing to focus on your home’s curb appeal with a few well-placed shrubs and mulch, but real estate experts caution against taking it too far. That soothing coy pond might be eye-catching, but busy buyers will worry about the upkeep.
Real estate markets differ by geographic region, and it’s possible the above projects may be sought-after in certain locales. If you’re unsure, check with a local realtor before spending big bucks on upgrades that may actually serve to hurt your prospects at selling in the future.
Image via Flickr/evagalesloot