Not every remodeling project will increase your home’s value. Some, in fact, can really turn off potential buyers. Value-reducers include:
A built-in pool that takes up most of the yard.
In fact, an in-ground pool is a deterrent in many locations. Some buyers are simply not interested in the upkeep of a pool if the location only allows pool use for 5-6 months or less. A friend of mine recently sold her home with a lovely pool area for much, much less than she had anticipated. She says she basically sold her home and gave the new owners the pool to go with it, free of charge! She did not recoup her costs. Certainly pool areas are awesome, just be sure your location supports good resale for pools before spending too much.
A super-large garage.
You may love the fact that you can house more than two cars and still have room for your motorcycles and/or other toys, or to work on those motors, bikes, cars, and woodworking items. However, potential buyers may not share your enthusiasm for your motorized babies. They may prefer additions to consist of more living space, rather than non-living space.
Strange room layouts, such as a bedroom that can only be accessed through another bedroom.
What can I say? This is a deal breaker for so many buyers. No explanations necessary. While additional living space is always welcomed, bedrooms that can only be accessed through another bedroom are not ideal. Bedrooms that have two or more ways to enter (read: two doors to the room) are another turn off to buyers. Good furniture placement is hard to achieve in this type room.
A poorly designed addition that looks “tacked on.”
Using completely different building materials, a whole new decorating scheme, or something that feels disconnected to the rest of the house is a definite no-no. Opt for additions that flow easily into the existing plan. Consult a professional!
Too much white marble.
White marble is beautiful in its simplicity as accents to kitchens and baths, and even when used in furnishings and accessories…but this is the perfect example of “too much of a good thing!”
Any upgrade that prices a house significantly above those in the neighborhood.
We all want a beautiful and timeless $100,000 kitchen with all the bells and whistles! What a joy to behold and to cook in and gather in with friends and family!!! Sadly, a $100,000 kitchen in a neighborhood of $200-300,000 homes will not support good resale value. Your home value is reflective of your neighborhood as well as its own condition and upgrades. Fair or not, that is the way the housing market works.
The market value of your home is always dictated by prospective buyers. When remodeling or upgrading, always consult a professional to estimate cost, get design ideas, and decide the best bang for your buck as far as resale. This is the best way to keep from being surprised by a low rate of return when the time comes to relocate. A small fee for a consultation is a small price to pay for peace of mind when spending money on your largest investment: Your Home!