Investing in home improvement is a good thing, right? Well, not always. While there are tons of projects you can do to increase the value of your home, there are many that aren’t worth the money you spend on them. Beware of the following home improvement projects that might not be worth the investment. If you plan to do one of them because it’s something you want for yourself, go for it; but don’t expect to see much return on your investment when it’s time to sell your home.
We understand. Swimming pools are just plain fun. But if you expect your pool to be a great selling point that will net a higher asking price when you go to sell, think again. Pools are expensive, high-maintenance, insurance nightmares, and they can actually scare some buyers away. Even if a buyer loves your house but won’t use the pool, they’ll have to drop a good amount of money to get rid of it. If you want to put in a pool for your own personal enjoyment, that’s fine, but understand that you probably won’t make the money back that you spend on installment and maintenance.
Kitchens are one of the biggest selling points in a home, and it’s lovely when they’re all renovated and ready for use upon move-in. But there is such a thing as over-improving. If you’re a professional chef or baker and need special a kitchen setup, go ahead and upgrade your kitchen all you like for your own usage. But don’t expect to see a huge return on a super luxurious kitchen unless the rest of your home and neighborhood equally as luxurious.
Outbuildings like sheds or detached garages are great for storage, and they’re super convenient for converting into studio or office space. If you’re going to convert an outbuilding into something else, though, be careful of how much you spend to do so. It won’t count toward the square footage of your home, and it definitely won’t make you any more money on the sale price.
Adding rooms to your house will increase your square footage, thereby increasing your overall asking price. But if you don’t keep the renovation or addition under the average price-per-square-foot for your neighborhood, you definitely won’t recoup the amount you spent to add on.
Too Much DIY
In a Pinterest and YouTube world, it’s easy for some people to go overboard in the DIY department. If you’re into doing things yourself, be careful about what you’re doing and the quality of your work. Professionals charge what they charge because they know how the work should be done. When it’s time for you to sell, a home inspector will make a note of any poor or amateur workmanship. Any time you choose to do something yourself instead of consulting a pro, you run the risk of paying the price—literally—when you have to have it redone before selling.
If you’re going to spend a lot of money on materials, please don’t skimp on the labor. It’s easy to make expensive materials look cheap when poor craftsmanship is involved. On the other hand, a true craftsman can make cheaper materials look like a million bucks!