These Improvements Won't Increase Your Home Value
The market is sizzling hot for sellers right now, so if you've been thinking about putting your home on the market, it is prime time to do so! Preparing to sell your home can be a stressful process. Often you will find yourself making improvements just for the sake of the sale. While some of these enhancements may boost the look of your property and make it easier to sell your home, you will be surprised to discover that they do not increase the value of your home. In fact, some improvements might actually detract from it. Here is a list of 7 "home improvements" that do not increase the value of your home:
- EXTENSIVE PROFESSIONAL LANDSCAPING
Landscaping choices are a personal preference. If you are going to invest in elaborate landscaping, you should do it for your own enjoyment, because no matter how grand your yard is, it's not going to bring you big bucks upon resale.
- UPGRADING ELECTRICAL OR PLUMBING IN AN OLDER HOME
Spending thousands of dollars to replace old electrical or plumbing is just simply something you should do. It's considered home maintenance. While NOT doing it might hurt your bottom line in a sale, you shouldn't expect to recoup your investment upon sale for what is likely to be considered a standard improvement.
- NEW ROOF, GUTTERS, SPRINKLERS OR HVAC
There are certainly buyers in the market who will be looking for homes that have newer features, but they won't pay more for them. Replacing things that are broken or past their life expectancy is considered home maintenance and not something buyers expect to pay for.
- SWIMMING POOL AND/OR PERSONAL SPA
While water-related improvements can provide a lot of fun and entertainment for your family, the cost of installing a pool or spa never finds its way back to you. In fact, some buyers will ask that you take the spa with you or won't purchase a house with a swimming pool. Installing a pool or spa should only be done for your own pleasure.
- MAKING DATED IMPROVMENTS
If you think you might be selling your house, you need to be careful about making improvements that are not on trend. For example, you might love white appliances and countertops in your kitchen, but because these are not currently trendy, potential buyers are not likely to feel the same way.
- GETTING YOUR HOUSE PAINTED
Painting may be the single most cost-effective improvement you can make before selling your home, but it won't return any bang for your buck unless you do the painting yourself. Fresh paint on the exterior or interior of your home absolutely makes the home more saleable, but an appraiser will not give you a credit boost for it.
- SOLAR PANELS
The people selling you those solar panels will tell you that they will improve the value of your home and add to your bottom line profit, but it's not necessarily true. While in some cases people looking for a home with solar energy may be willing to pay a higher price for that, there is no guarantee it will increase the value of your home. Do Solar Panels Increase Property Value?
Have you been thinking of putting your house on the market? Mike Manosky will analyze the market and determine the highest price that your home can sell for. He uses state-of-the-art marketing systems to maximize exposure for your home. That means MORE MONEY IN YOUR POCKET! Call Mike today at 256-508-0211!
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