Investing in home renovations can seem like a great way to boost the value of your property. However, some features might not yield the return you hope for when it’s time to sell.
Real estate experts highlight which upgrades you may want to think twice about before committing to them. Here are five home features that agents say could end up costing you more than they’re worth.
1. Converting Your Garage into Living Space
Turning your garage into a den, office, or another living area can seem appealing, but most buyers prioritize having a functional garage for parking. Omer Reiner, a licensed realtor and president of FL Cash Home Buyers, LLC, states that while homeowners might enjoy additional living space, most buyers still want a garage to park their vehicles.
Elizabeth Dodson, co-founder of HomeZada, points out that a lack of adequate parking can be a red flag for buyers, especially for multi-vehicle families.
2. Adding a Swimming Pool
While a pool might sound luxurious and fun, it could deter potential buyers who don’t want the added maintenance and expense. According to Angi, the average cost of installing an inground pool is $65,709, but you may not see that money back when selling your home.
Dodson notes that pools can also be a safety concern for families with young children, limiting your buyer pool.
3. High-End Kitchen Appliances
While upgrading your kitchen can add value, going overboard with high-end appliances may not pay off. Elizabeth Dodson mentions that buyers often prioritize functionality over luxury regarding kitchen appliances.
Remodeling Magazine’s research supports this, showing that a major kitchen remodel costing $79,982 only recoups 49.5% of the expense when you sell.
4. Building Niche Additions
Adding specialized rooms like home gyms, wine rooms, or movie theaters may suit your lifestyle, but they can limit the appeal of your home. Dodson highlights that niche additions can make it challenging for buyers to envision the space meeting their needs.
Fixr data notes that home gyms, which can cost an average of $13,500, might not provide a good return on investment.
5. Elaborate Landscaping Projects
Curb appeal is essential, but going overboard with expensive landscaping may not offer the return you want. Al Ruggie, marketing director at ASAP Restoration LLC, advises sticking to basic maintenance like mowing the lawn and trimming trees rather than investing thousands in hardscaping or water features.
While a neat yard can attract buyers, excessive landscaping expenses might not be recouped.
Think Before You Renovate
While making your home reflect your lifestyle, it is important to consider how potential buyers will perceive upgrades. Consult with local real estate experts or conduct a market analysis to understand what renovations can offer the best return on your investment.
Making smart choices now can help ensure your home holds its value when it’s time to sell.