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Home Improvement Projects To Avoid For Resale

Home Improvement Projects To Avoid For Resale

Home improvement projects can bea fun part of owning a home. Thereare tons of home improvementprojects that a homeowner canchoose from. With every homeimprovement project there arecertain decisions that need to bemade. Decisions such as setting abudget for the project, knowingwhich project to choose, and who willcomplete the project are just a few tonote.

Another huge consideration thathomeowners take into account whenselecting what home improvementproject to complete is the impact itwill have on the properties value. There are tons of articles availableto homeowners on homeimprovement projects that increase ahomes value. There aren’t manyarticles however regarding homeimprovement projects to avoid forresale.

It’s crucial that homeowners who aredeciding on a home improvementproject keep in mind what impact itwill have on it’s resale value. Certainly homeowners who areplanning on staying in their home foranother 15 years doesn’t need to putas much weight on resale value.

There is no dollar amount that can beput on the personal enjoyment of apool, deck, or other improvementprojects. If a homeowner is unableto enjoy these improvement projectsand they don’t impact the homes value substantially, what is the purpose of completing the project? There isn’t apurpose and actually can cost you thousands of dollars.

Are You Hiring or DIY?

Before I get into some of the home improvement projects that you should avoid when considering resale value, it’s

first important to decide whether you are hiring a contractor to complete a home improvement project or if you will do-it-yourself (DIY). So once you have read the following home improvement projects that you should avoid whenconsidering the resale value of your home, evaluate whether you will hire a professional or DIY. There are pro’s andcon’s to each and here are a few things to consider about each.

Hiring a contractor to complete a home improvement project is certainly going to cost more money than a DIY project. The quality of work in most cases will be better than a DIY project though. Make sure when you’re selecting acontractor to complete any home improvement project, you know they are reputable and you know they can performthe project to the level you’re expecting. It’s suggested that you interview contractors just like you would interviewpotential Realtors to sell your home.

DIY home improvements are normally more cost effective than hiring a professional. The thing that needs to beconsidered before tackling a DIY project is whether or not you can complete the work and complete it properly. Manypotential home buyers can see shoddy work from a mile away. The last thing you want when selling your home ispotential buyers thinking they are walking through the home of DIYer that cuts corners when doing improvements.

So, which home improvement projects should you avoid for resale? Here are several home improvement projectsthat you need to avoid if you plan on selling your home in the near future. The following improvements can certainlyincrease the value of a property but the cost of the improvement will not be recouped in resale value, which is theprimary reason to avoid these specific improvements.

High-End Gourmet Kitchens

Kitchens are one of the reasons a home will sell and there is no doubt about that. An outdated or non functionalkitchen can unfortunately lead to a home that doesn’t sell and expires off the market. Kitchens are also one of themost expensive rooms to remodel and improve within a home. Depending on the level of a kitchen remodel, it cancost anywhere from a couple thousand dollars up to $50,000+.

Certainly a kitchen with top of line cabinets, counter tops, and flooring will “WOW” a potential buyer but it can alsobreak your bank. The cost of a high-end gourmet kitchen is the primary reason to avoid this home improvementproject when considering resale value. If you plan on moving in a year or two, do not spend $40,000 on a kitchenremodel because you will not get it back nearly that amount of money back from resale.

Don’t completely avoid improving the kitchen though. Instead of a high-end gourmet kitchen, here are some otherkitchen improvements that can be made for less and still have a positive impact on resale value.

Updating light fixtures

Fresh Paint

Resurfacing Cabinets

Install laminate flooring

Install Formica counter tops instead of granite or quartz

Adding a Swimming Pool

The addition of a swimming pool is one of the top home improvement projects that you should avoid when consideringthe resale value of your home. Certainly a swimming pool is nice to enjoy during those 100+ degree “dog days” ofsummer. This doesn’t translate into an increase in resale value though. Depending on your location, it can have evenless of an impact on the resale value of a home. For example, if you live in Western New York where you can onlyuse a swimming pool for 4 or 5 months a year, the additional resale value of a pool will be even less than ahomeowner with a pool living in South Florida.

The fact is there are many home buyers who want nothing to do with a swimming pool. There are some buyers who

Adding A Pool Is A Home Improvement Project To Avoid for Resale

go even as far as telling their real estate agent to exclude any property with a pool. If your plan is to move in the nearfuture, avoid adding a swimmingpool, even though you would get ashort period of time to enjoy it.

Sun Room/3-Seasons Room

An addition of a sun room or a 3-seasons room is one that you shouldavoid when considering resale value. The cost of a sun room can be veryhigh. Of course it can be donecheaply, but you get what you payfor. A top of the line sun room willcost in the ballpark of $30,000-$50,000, depending on size,amenities, and other factors.

The cost of an added sun room isusually not able to be recouped in ashort period of time. First of all, mostsun rooms are unheated space, sothey cannot be added to the totalsquare footage of a home. Certainlyif it was to be added to the squarefootage of a home, it would have amuch larger impact on the homesvalue, whether it was beingappraised or having a comparativemarket analysis completed.

While you should avoid the additionof a sun room as an improvementwhen considering resale, there arecertain additions that can be morebeneficial. Here are severaladditions that you don’t need to avoidwhen considering resale value of ahome.

Converting attic space into legalliving space

Converting an unfinished basement into legal living space

Garage Addition

There are some perspective buyers who will not look at a home that doesn’t have a garage. There are others whocould care less about having a garage. If you don’t have a garage, adding one is something that you should avoidwhen considering resale value. The cost to build a garage will vary from contractor to contractor, however, it’s likely tofall between $20,000-$40,000.

Let’s say for example it costs $20,000 to build a stand alone one car garage. The addition of the one car garage, in

most cases, is not going to add $20,000 in value of the home. It’s possible it could add an additional $5,000-$10,000,but not $20,000. While the addition of a garage will strengthen the number of potential buyers, homeowners stillshould avoid it as a home improvement project when considering the resale value.

Built-In Electronics

Everyone loves watching a movie on a huge screen with blaring surround sound, right? The answer is yes, but thisdoes not mean that the addition of built-in electronics is going to increase the resale value of a home. It may have asmall impact on the resale value of a home but you should avoid it because the impact is not significant enough tojustify the cost of the improvement.

If you have a huge home theater installed that seats 12 people added to your home and it cost $10,000, do you trulybelieve a buyer is going to pay $10,000 more for a home because of this. Not only will most buyers not pay that muchmore because of a home theater, a bank appraiser cannot justify an increase of $10,000 in the homes value due to ahome theater.

Over Personalized Finishes

One of the most important things to keep in mind when choosing a home improvement project and basing it on theresale value of a home is to make it appeal to the masses. While you may think it’s a great idea to install a floor witha bunch of pennies, the majority of buyers may think it is horrific. This would be a classic example of overpersonalizing during a home improvement and one that you should avoid.

Some other examples of over personalized home improvements could be selecting a huge lighting fixture, painting aroom your favorite neon color, or even selecting that modern faucet in the bathroom. Always keep in mind whenselecting a home improvement project and if resale value is important, to appeal to the masses.

Final Thoughts

Every homeowners situation is different. There are different reasons why one home owner may think a homeimprovement project is the best idea ever and why another may think it is the absolute worse. Generally, you shouldavoid the above home improvement projects if you’re going to be selling your home in the near future.

If you are unsure what a home improvement project that isn’t listed above will do to the value of your home, it’ssuggested you consult with your local real estate professional. Top real estate agents should be able to advise you onwhether or not the project you’re thinking of completing is a good idea or if you should avoid it when consideringresale value.

Other Home Improvement & Home Selling Tips

Home Improvement Mistakes That Impact Real Estate Values via Maximum Real Estate Exposure

10 Best Home Improvements for Increasing Property Values via RealEstate.com

Best Home Improvements to Increase The Value of Your Home via Kayu Connection

Improvements That Help Sell Your Luxury Home via The Las Vegas Luxury Home Pro

If you are thinking of making an improvement to your Rochester, NY home, please consider what impact it will haveon the resale value. This is especially important if you’re planning on making a move in the near future. If you’reunsure what the impact an improvement will have, please contact us, and we’d love to give you our opinion as to howthe improvement will impact the value of your home and whether or not you should avoid it.

About the authors: The above article “Home Improvement Projects To Avoid For Resale” was provided by theKeith Hiscock Sold Team (Keith & Kyle Hiscock). With over 30 years combined experience, if you’re thinking

of selling or buying, we’d love to share our knowledge and expertise.

We service the following Greater Rochester NY areas: Irondequoit, Webster, Penfield, Pittsford, Fairport, Brighton,Greece, Gates, Hilton, Brockport, Mendon, Henrietta, Perinton, Churchville, Scottsville, East Rochester, Rush,Honeoye Falls, Chili, and Victor NY.

Visit our website at www.HiscockHomes.com.

© 2015, Kyle Hiscock. All rights reserved.