There are certain home improvements that won’t add much, if any, value to your home. Here are four of them.
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Today we’re beginning a two-part series that details seven things that do not increase the value of your home, whether you’re planning to sell soon or down the road. Here are the first few:
1. Extensive professional landscaping. If you go over the top with landscaping, you will typically not get a full return on your investment when you sell. A good landscaping update will give you more curb appeal and help your home sell faster when buyers are comparison shopping. However, it doesn’t necessarily increase its value.
2. Upgrading electrical or plumbing systems in an older home. Just like a car would, an older home needs maintenance. It’s an integral part of protecting your property. Make no mistake that if these are things your home needs, you should do them in order to maintain its current value. However, don’t expect the home’s value to increase because of them.
1. Extensive professional landscaping. If you go over the top with landscaping, you will typically not get a full return on your investment when you sell. A good landscaping update will give you more curb appeal and help your home sell faster when buyers are comparison shopping. However, it doesn’t necessarily increase its value.
2. Upgrading electrical or plumbing systems in an older home. Just like a car would, an older home needs maintenance. It’s an integral part of protecting your property. Make no mistake that if these are things your home needs, you should do them in order to maintain its current value. However, don’t expect the home’s value to increase because of them.
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Stay tuned for part two, which will be coming in a few weeks.
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3. New roof, gutters, sprinklers, or HVAC unit. These are also maintenance items like the plumbing and electrical systems. It will maintain the home’s value and buyers appreciate a home that is updated and well-maintained.
4. Swimming pools or hot tubs. I get questions about these from homeowners all the time. The truth is that appraisers won’t give you very much credit for it. If you want a pool and want to enjoy it, you should go for it. If it’s well-kept and maintained over the years, it can sell faster and attract a higher offer. However, it won’t increase the value by much.
Stay tuned for part two of the series when I will discuss the final three home improvements that do not provide value to your home. If you have any questions for me in the meantime about any of these items or about anything else related to real estate, give us a call or send us an email. We look forward to hearing from you soon.
4. Swimming pools or hot tubs. I get questions about these from homeowners all the time. The truth is that appraisers won’t give you very much credit for it. If you want a pool and want to enjoy it, you should go for it. If it’s well-kept and maintained over the years, it can sell faster and attract a higher offer. However, it won’t increase the value by much.
Stay tuned for part two of the series when I will discuss the final three home improvements that do not provide value to your home. If you have any questions for me in the meantime about any of these items or about anything else related to real estate, give us a call or send us an email. We look forward to hearing from you soon.
Good Blog Chip. I hope sellers will understand that maintenance items don't add value. Like me for instance. Am I going to recover $350K from my indoor riding arena? Appraisers are the problem, not so much the buyers. Horse people get it, they may be willing to pay the price, but lenders won't approve a loan. Always good to see you and prayers for Courtney .
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Wow!! Amazing blog and thanks for sharing this wonderful information. Perfect blog for "Realtors". I am waiting for part two.
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Wow!! Amazing blog and thanks for sharing this wonderful information. Perfect blog for "Realtors". I am waiting for part two.
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