Know Your Home Upgrades
Many people assume that every home upgrade they add to their home is going to increase its value and make it easier to sell. In all actuality there are some that will have no impact and others that could potentially work against you.
1. Boutique-style Bedroom – Your master bedroom does not necessarily need to be extravagant, but if it is has a serene, resort-like vibe this could work in your favor. A large walk-in closet is always a bonus, but a corner Jacuzzi could be a turn off. So, select your features carefully.
2. In-ground Pool – If having an in-ground pool is your dream by all means install one. However, understand that your home could take longer to sell unless the right buyer comes along, and you won’t recoup all of your invested money. Most buyers view them as expensive and time-consuming to maintain and there are safety and liability concerns, as well.
3. Spa-inspired Bathrooms – There is a fine line between creating a spa-like bathroom anyone can appreciate and going overboard with lavish features you will not see a solid return on investment with. Steam showers, large soaking tubs, heated floors, and double vanities are features buyers love. A huge hot tub or a dry sauna is probably not a good idea.
4. Gourmet Kitchen – Even folks who don’t cook can’t help, but be inspired to create culinary masterpieces when they step into a gourmet kitchen. If you are going to splurge on remodeling one room of the house, this is it. Newer cupboards, counters, lighting, and fixtures can go a long way in making your home more desirable. That being said, pizza ovens and imported tile backsplashes are a couple of features that probably won’t do you any favors.
5. Audio-Video Systems – You may think anyone will see the value in a home theater system, but this isn’t always the case. Some buyers are not all that interested in advanced technology and those who are may turn their nose up if your system is outdated.
6. Library – If you have four or more rooms in your home then turning one into a library complete with floor-to-ceiling shelves and a rolling ladder is fine. However, if you only have a two- or three-bedroom home, you may have a hard time finding a buyer interested in having a library as one of the only available extra rooms.
As a homeowner, you would like to think that every improvement you make will benefit your pocket book, but this is not always the case. If you are concerned with your home’s long-term value, then home upgrades, remodeling, and high-end amenities should be thought through very carefully.