Though upgrades can improve the home’s condition, not all increase the property's value. Here are four common renovations to avoid when adding value to your home.
1. Plumbing and HVAC improvements
Though potential buyers expect functional plumbing and HVAC systems in your home, you don't have to dish out a ton of money to upgrade all of the components. You should focus on smaller, less expensive improvements that maintain in good working condition.
2. Ornate lighting, bright colors and custom tiling
Less is more! Too many design elements are not necessary for selling your home. Great backsplashes and subtle accent walls are simple design features that make your home more appealing. Lighting is another costly element. If you want to make your house to look bright and inviting, consider installing recessed or LED lights for a modern and energy efficient effect.
3. Swimming pools
Having a swimming pool in your home requires a large amount of cash for maintenance and operation. Aside from expensive upkeep, other reasons swimming pools devalue homes include; the upfront cost of installation ($31,000 plus), safety risk, and limited usage due to weather.
4. Room conversions
Repurposing a room can actually limit its usefulness. Several difficult room conversions include transforming a bedroom into a studio, wall removal for more space, or eliminating a room to add on to another.
If you're set on converting a space, make sure the new purpose is useful. For example, removing the wall between the kitchen and dining room, not only creates an open concept but is highly functional.