12 Home Improvements That Don't Add Value

Before you invest in a swimming pool or new addition, you should consider whether the project will pay itself off by getting prospective buyers in the door when it’s time to sell. Here are some common home improvement projects that could decrease the value of your home:

Wallpaper is making a comeback, but a pattern and color scheme that you love may not appeal to a majority of buyers. On average, installing wallpaper costs homeowners $800 to $1,200, but most spend about $1,000 for a 12-foot-by-18-foot room with standard vinyl wallpaper.

However, this cost likely won’t be recovered when it’s time to sell. Plus, wallpaper removal is a notoriously time-consuming and messy job.

While built-in electronics may be perfect for your home theater, it could turn away prospective buyers. Gadgets eventually become outdated or even obsolete, meaning this type of personalization can lead to a decrease in home value.

According to the National Association of Realtors 2022 Remodeling Impact Report, the highest percentage of cost recovered for interior home projects was from refinishing hardwood floors at 147%, and new hardwood flooring at 118%.

Unless you live somewhere that’s hot for a majority of the year, a swimming pool won’t add much, if any, value to your home.

Most homeowners spend between $6,002 and $27,460 to convert a garage into a livable space, but this renovation project typically doesn’t add value to the home.

DIY renovation projects can be a great budget-friendly option to add value, but if a buyer notices, it may not always be a good thing. Even simple DIY home improvement projects can go horribly wrong. Spending the extra money to have the job done well could get you a better return on your investment.

A fresh coat of paint is a good way to increase your home’s final sale price, but some buyers tend to stay away from bright, dark or bold colors.

If you’re looking for a cost-effective option to spruce up your home, choose neutral colors to transform the space and give each room a clean, fresh look.

A sunroom can seem like a good alternative to a larger home addition, but you won’t get the same return on investment. Unlike a full room addition, sunrooms often aren’t included in a home’s square footage, which appraisers use to determine the value of a home.

Removing texture on walls and ceilings is a difficult project, which can potentially lead to lower offers when it’s time to sell.

Beautiful landscaping can help boost curb appeal and get more prospective buyers in the front door, but costly and overdone landscaping could be a concern.

Not only is the attractiveness of decorative additions subjective, but buyers could see it as too difficult to maintain.

Outdoor fire features can be great for entertaining and adding character to your property, but they're probably not going to boost your home's value enough to recover the cost.

Lighting up your lawn looks pretty, just don't expect it to do much for your home's value. Installing 20 standard outdoor LED lights costs about $6,800, and you'll only recoup about $4,000 of that, or 59% of the cost.

Connect with Jason Buttorf for advice on what you need to do to get your house ready to sell.


Source: usnews.com

Work With Jason

Drawing on his decade of experience in finance, investment management, and holistic financial planning, and as a Chartered Financial Analyst ( CFA ® ) charterholder, he leverages his financial acumen and analytical focus to help his clients navigate the sophisticated San Francisco market.
Follow Us