Making additions and remodeling changes to your home sounds like a great idea that will have great pay off. But unfortunately, many of them can actually cost you a lot of money when you go to sell. There are some “upgrades” that you should avoid doing before you sell your home.
First upgrade mistake is a swimming pool. Installment for an in-ground pool can run you between $30,000 and $60,000 and the average return on investment for a pool is abysmal. Pool time can be extremely limited in certain areas where it is colder and where the houses nearby do not also have pools. Another reason why people avoid purchasing a house with a pool is because of the maintenance or the insurance and liability issues
Another mistake home owners make, which sounds like an amazing idea at the time, is built-in technology. Built-in electronics become obsolete very quickly. Changes like custom cabinetry to hold or conceal the equipment is rarely adaptable to newer or better products. While these seem like high-tech, sought after upgrades, they could actually be considered out of date in a few years because of how fast technology advances.
Bold color choices can also scare away potential home buyers. While it would only take a new coat of paint, or different colored pillows, these daring color choices will make it difficult for buyers to picture themselves in that space with their own furniture. You should always take caution when it comes to trendy, look-at-me hues.
Another upgrade mistake is adding in carpeting. While you may love the coziness and warmth it brings, your buyers might be searching for a house with strictly hardwood flooring. A buyer needing to remove carpeting and install hardwood floors is costly and can potentially chase them away. An even bigger mistake is adding in quirky or colorful carpeting. If regular, neutral colored carpeting isn’t your buyers favorite, they could still work around it and find furniture to match. But if the carpeting is bright blue or has a funky pattern, chances are your buyer will not feel the same way about it as you did. They will have no choice but to rip them up and spend more money on flooring.
Many updates result in a great ROI, but there are certain ones that will not get you your money back and can even scare away potential buyers. You should be careful with where you are putting your money and if it will add value to your home and be worth it in the end.
Check out HGTV’s article on Remodeling Mistakes for even more tips.