5 Home Improvements That Will LOWER Your Home's Value
by Tyler Forte
All home improvements add value, right? Weâve all seen shows on HGTV featuring folks who invest tens of thousands of dollars in home improvements before listing their house on the market. Many home sellers think that these improvements are a sure-fire way to increase the value of their home but in reality, there are a number of home improvements that will do exactly the opposite.
No homeowner ever wants to devalue their house, but unfortunately many wind up doing just that because they assume all home improvements add value. While a kitchen remodel, new front door, and garage addition are a few of the best ways to increase the value of a home, there are a few things that will actually lower its value or cause it to sit on the market longer.
Home Improvement 1 â Elaborate Landscaping
Sure, lush landscaping in the front yard can add serious curb appeal! Planting trees, shrubs, and flowersânot to mention the labor cost of building beds, laying mulch, and adding hardscapeâare expensive and actually donât add anything to your homeâs selling price.
Plus, potential buyers might see elaborate landscaping as something theyâll have to spend time and money maintaining when theyâd rather just mow the lawn and be done with it.
PRO TIP: Want to sell your home fast? Learn how to add curb appeal!
Home Improvement 2 â A Swimming Pool
According to HomeAdvisor , the average cost of a swimming pool is $45,280. Then, thereâs all the ongoing costs: electricity and gas, maintaining the equipment, chemicals, surrounding landscaping, insurance, and more.
Many buyers will see a pool as a liability, not an amenity. They may also be wary of the upkeep and ongoing costsâso much so that it could keep them from wanting to make an offer.
Under the right circumstances, though, a pool can actually be a selling point. But thatâs the keyâit has to be under the right circumstances. In places where you can swim most of the year, or in neighborhoods where most houses have pools, Houselogic estimates a pool could actually boost your homeâs value by as much as 7%.
Home Improvement 3 â Carpet Everywhere
54% of homebuyers are willing to pay more for a home with hardwood floors, says USA Today. The reason for that might be that carpet isnât great at hiding damage, is easily stained, and holds lots of dirt and dust, which is a negative for people with allergies. Plus, potential buyers may flat-out hate the color and texture of the carpet in the home, so if you do have carpet, make sure itâs something that most people can agree on.
Home Improvement 4 â Bedroom Converted To An Office
With remote jobs becoming increasingly popular, many homeowners are looking to create a dedicated workspace in their homes. But instead of taking out that closet and adding in a built-in desk and bookcase, make non-permanent changes and keep bedrooms. Losing a bedroom can actually drop a homeâs value by $10,000 or more!
Home Improvement 5 â Sunroom Addition
Ahhh, imagine sitting in your gorgeous sunroom every morning with a cup of coffee as you scroll through your Instagram feed. Sounds pretty nice, right?
Itâs a lovely image, but what isnât so lovely is that sunroom additions have the lowest return on investment (just 48.5%, according to Remodeling magazine) of any home renovation project.
If you want to find out whether your house amenities add any value to your property, contact Felix Homes today at contact@felixhomes.com or 615-354-5731.