Most people know what type of remodeling would increase the value of the property for a homeowner. Unfortunately, not many know what they should not do and end up paying hundred of thousands of hard earned dollars on improvement that will never pay back enough on their investment. If you are planning to invest in some serious home improvement projects, check out this list so you would not up wasting your hard earned money on renovations that do not add any value to your home:
(1) Replacement Of The Roof – do not replace the roof unless it is really falling apart and there is absolutely no choice but to do that. If you are doing this just to beautify your home and hoping that it will add to the value of the property, be warned – it will not. In most cases you would not be able to even recover the cost, leave alone get additional value on your home on account of the new roof. Go for it, if the roof is damaged and allows humidity to filter in your home. Old and damaged roofs can make your home difficult to sell. However, if the roof is functionally okay and your desire to replace it is mostly aesthetic, experts would advise to abstain from putting the thought into action.
(2) Building A Home Office – if you use it and you need by all means have a great home office built equipped with all the latest office equipments and fixtures. However, this is not a wise investment if you are on the verge of selling your home in the near future. Not all home buyers would require a home office. Besides, the technology becomes obsolete too fast and hence, requires changing much too often. The home buyer might not even want to have a home office and that will mean that they would have to invest a significant sum to turn the room into a bedroom or a regular room.
(3) Building A New Room – normally an additional room, especially if that could be used as a bedroom would enhance the cost of the house dramatically. A master bedroom would give you about 66% return on your investment normally. However, today when with the escalating costs for everything, most people look for compact and small houses. An added room might not always appeal to the home buyer, if it means addition cost in heating or cooling and additional price on the house. However, if you have a large space in your home and by building a wall in the middle you can add a room or an attractive storage room, this would help you raise the value of your home.
(4) Landscaping – for luxurious bungalows landscaping is part of the overall picture. In fact, if it is not there the value of the home might suffer. However, the regular home buyer does not really need or want to pay for fancy landscaping that add to the cost of house. It will definitely make your home attractive to the buyer, but it will not raise the price.
Be careful what you spend your money on when you are into home improvement projects. Do your homework well before you spend money to ensure that your investment pays back.