If you are planning on selling your home, you might be tempted to make significant investments and go overboard with different features in order to get a higher asking price. You want potential buyers to be wowed and feel like they’ve found the right house. However, staging is one thing, and investing in expensive upgrades is something entirely different. Keep in mind that there are many home upgrades you think add value but they actually don’t, and you need to make sure to avoid them. Therefore, we did our research, and in this article, you’ll find out what upgrades don’t add value, how to avoid them, and why.
What are home upgrades you think add value but they actually don’t?
Selling a home can be difficult, especially if you are selling and buying at the same time. You need to juggle various aspects of the selling process while simultaneously searching for a new home and planning your relocation.
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Now, let’s cut to the chase – further in this article, you can read about home upgrades that don’t add value to your home even though it seems they do.
Extending a room and losing one in the process
The more bedrooms your home has, the higher the asking price you can expect. Therefore, expanding your master bedroom or creating a walk-in closet by sacrificing a room can negatively influence your appraisal.
Regardless of the square footage, if you turn your home from a three-bedroom to a two-bedroom one, you’ll automatically lower its price. Why? Because your home price will be formed according to similar homes in the neighborhood with the same number of bedrooms. On top of that, by losing a bedroom, you are more likely to lose potential buyers, too.
Adding a swimming pool
A swimming pool is an expensive investment, but it might not offer any return. Not only is a pool expensive to build, but yearly maintenance costs can be high, too. If you really like swimming and spending time at a pool, consider it as an investment in your lifestyle, rather than something that will give you a great return on investment.
However, in certain cases, a swimming pool can increase the value of your home, and that’s only if:
- Swimming pools are the norm in your neighborhood
- You can use it throughout the whole year as the weather conditions allow it
- The pool style fits your neighborhood
- Even with the pool, you still have enough space in your yard
- You are in the position to attract the right buyers
Purchasing high-end appliances
High-end appliances are not a good investment, especially if you are looking to sell your home soon. They can cost as much as double the conventional appliance, but they won’t give you any return on investment.
Also, being inconsistent with expensive and state-of-the-art appliances is something you want to avoid. For example, if your kitchen is modern and has all the best features, but your bathroom hasn’t been upgraded, it can make your home seem like a work in progress. This will not give you a return on investment unless your entire home is on the same level.
Always have in mind that high-quality features can influence the value of luxury and high-end homes. When it comes to mid-range houses, it doesn’t work that way. Many people are not ready to pay more for a home simply because it has modern and high-end features, so you are risking attracting only a small number of potential buyers.
Creating an open-plan home
Nowadays, open-plan homes are very popular. They are a great way to boost the natural light and make the space seem even bigger and wider. However, if you plan to sell your home, it might not be a good idea to invest in an open plan as it’s quite an expensive investment.
Also, having the current pandemic in mind, which forced people to spend most of their time at home, open-plan might not be the right choice for everyone. Namely, many people are now deciding to reconfigure their existing open-plan to make place for different activities that are now being done at home. Therefore, it’s much more important to have separate areas for working, studying and exercising, or playing.
Various invisible improvements
What we mean by invisible improvements are projects that improve your quality of life and make your home a better place to live. However, what makes them invisible is that potential buyers won’t care about them or even notice them.
For example, you might need to change your plumbing or upgrade your HVAC system, and that can cost you a small fortune. However, if you are planning to sell soon, have in mind that you won’t be able to recover the costs.
Most buyers expect everything to be in working condition. However, almost no one is ready to pay more if you invest in a high-quality heater or air conditioner. Therefore, make sure to keep these parts of your home in good condition by doing regular maintenance and don’t make any huge investments if they aren’t absolutely necessary.
Research before you invest
Now that you know what home upgrades you think add value but they actually don’t, it will be easier for you to decide which investment is worth making. This is especially true if you are selling your home and only making the investment for the sake of increasing your home value. Therefore, make sure to compare the prices of similar homes in your neighborhood, research the market and consult a reliable real estate expert that will help you make the right decision.
About Gerardo Zavala, Realtor
There is a true passion for connecting people with real estate that makes me fall in love with my career over and over again. While my title says, REALTOR® I think I am much more than that. For example, I am present and actively listening to my client’s needs, on the spot when things are urgent, and by your side to say “congratulations.” Most of my clients will say that I am a connection away from support no matter the situation, day, or time. In my opinion, customer service, educating the client on progress and next steps, and overall satisfaction are my top priorities. How can I help you?
