When choosing updates for your home, it’s helpful to know there are plenty of renovations that boost property value. Selecting projects with a good return on investment is particularly important if you’re planning to sell the house soon. If you’re hoping to tackle home improvements, be aware of a few projects with a low ROI.
Popular Projects with a Low ROI
Installing a Swimming Pool
If your family enjoys spending time at the pool, building one in your backyard might feel like a worthwhile investment. You’ll save money on trips to the community pool. Plus, you can entertain friends and neighbors and relax by the water on the hottest days of the year.
However, prospective homebuyers may see the pool as a bigger commitment than they would like to make. Keeping the water clean and sparkling requires costly chemicals and frequent maintenance. If the buyer has young children, they may even view a swimming pool as a safety hazard.
Converting the Garage to a Bedroom
If your family is growing or an elderly family member is moving in, you might need another bedroom. Converting the garage into a bedroom is an excellent way to add the room you need.
Most buyers prefer a usable garage space. The garage offers protection for vehicles and extra storage space for homeowners. Converting a garage often requires extensive renovations, including rewiring the room. Because it’s a costly modification, don’t expect a good return on your investment.
Luxury Kitchen Remodel
A luxury kitchen with top-of-the-line appliances and high-end materials may be appealing. However, a buyer might not see value in fancy appliances and marble countertops.
It’s a great idea to update the kitchen before putting the house on the market. But stick to mid-range improvements, like painting the walls and installing new flooring, because they offer a better return on investment.
Projects with a Low ROI: Home Theater
You might enjoy remodeling the basement to create the perfect theater room for family movie nights. Basements tend to be dark and poorly lit; add comfortable seating and a projector, and you have an ideal space for a home theater.
If your buyers don’t love movies, they won’t be excited about the theater in the basement. Instead, the interested buyer might be concerned with the cost of converting your theater into a usable space.
When choosing improvements before selling your home, talk to your real estate agent and do your research. To earn the most profit, tackle updates that appeal to most homebuyers.
St. James Home Services offers inspection services in Durham and the surrounding areas of North Carolina. Contact us to schedule an appointment.