5 Home Updates to Avoid

Americans spend on average $4 billion yearly on home updates and renovations. We love making our homes better for our enjoyment and will often rationalize spending the money to do so. However, not every upgrade will increase the value of your property. Today I want to share five projects that will give you the WORST return on your investment:

5. Swimming pools. Pools are great for adding summer fun and making great memories; however, many buyers only see homes that require higher insurance rates, pose safety concerns, and require regular maintenance. For most, all of that additional hassle is not worth it, especially if they do not intend to use it much. 

4. Garage conversions. Extra living space or a home gym might be nice; however, most of the time garage conversions do not flow well with the rest of the house. Because virtually every home buyer wants a garage, it is usually a better financial decision to keep the garage as-is.
3. Solar panels. As a rule, you will not get a return on the cost of adding solar panels to your home during your home ownership, and buyer's generally will not pay significantly more for homes just because they have solar panels. Feel free to reduce your carbon footprint, but do not expect a home buyer to pay more for your home because you are environmentally conscious.
2. Luxury updates. Whether it is commercial grade appliances, custom cabinetry, pressure to compete with your neighbor, or bragging rights for the name brand on your new addition. You may be adding updates that a buyer does not really need, want, or even recognize. Anytime you sacrifice function for the sake of form you will likely be left with a home that may look terrific, but areas that are awkward, unusable, and undervalued.

AND...

1. Sloppy DIY projects. DIY projects sometimes result in poor craftsmanship. Visible areas of sloppy work will often lead buyers to question the condition of other parts of the house that they can not see. Haphazardly placed cabinet hardware, installing a new bathroom vanity while keeping the original faucet, loud or custom paint colors, or anything that exceeds your understanding without having to rely on YouTube should generally be left to a professional.

Just remember that this is your home and if you intend to make updates or repairs, ask yourself this question: Is your primary reason for the update/repair to improve your enjoyment of the home during your ownership, or is your primary reason to increase your property's value? If financial gain is what you are after, remember these 5 updates to avoid. If greater enjoyment of your home is your goal, do not worry about making money and feel free to spend the money to enjoy your home to the fullest.

What do you think? What would your top five updates to avoid include? If you think of other items that are not found in our list reach out and let us know. We are always happy to hear from you so do not hesitate to contact us!