Which Home Improvements Don’t Increase Property Value?

home improvement

Are you one of those homeowners that feels like adding that outdoor pool to your property before selling it will make your property value skyrocket? Are you gearing up to mount solar panels to your roof to raise your property’s value?

Unfortunately, these two projects may seem like sure winners when trying to add a significant amount to your property, but this is not the case. Here we will show you what home improvement projects won’t increase your property value.

Roof

There are plenty of buyers that will appreciate a new roof on a home for sale. However, they are not likely to pay extra for that new roof. If the condition of the roof is so bad that it may cost you a sale, then you may want to get it replaced. A mortgage estimator will help you juggle the numbers during this process.

HVAC

Everyone loves a climate-controlled home in every season. This does not translate to a hike in the sale price of properties with new centralized heating and air conditioning units. Since these systems are expected in most homes, adding new units won’t add to the property value.

Utility Upgrades

Do not make the mistake of thinking that the thousands of dollars that you spent replacing your home’s plumbing or wiring will get you more money at the closing table. Perhaps in a perfect world, you would be able to boost your sale price based on upgrades to your utilities.

Costly Landscaping Projects

Landscaping can add to the curb appeal to your property, but will not significantly increase your property value. So if you are counting on that new pizza oven and stone-paved seating area to get you a 5-digit price bump, this is not a likely outcome.

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Painting

Painting is undoubtedly the most cost-efficient improvement that can be made to a home. If you hire painters, you are unlikely to benefit by increasing the sale price due to painting. If you do the painting yourself, the sweat equity might give you a little slight nudge depending on how extensive the painting project.

Swimming Pools and Hot Tubs

If you enjoy swimming and your family prefers having a swimming pool or jacuzzi, let that be the reason you have these water features added to your home. If you think you are going to install a pool or jacuzzi just before you sell and tack ten-thousand dollars to the purchase price, you are sadly mistaken. Some families will not purchase a home with a swimming pool. Investing in water features before selling a home is an investment that is not a technique proven to yield significant returns.

Alternative Energy Features

Solar panels and wind turbines offer untold benefits during the lifetime of a home. While the power of having renewable energy supplying electricity to our homes is an excellent benefit to both our pockets and the environment, this is not an improvement that will give you any bang for your buck. Renewable energy use is not wide enough or understood enough to have a universal appeal around the country.

Conclusion

The bottom line is that no matter what you spend on renovating your home, it will only be worth what the market dictates. Spend your rehab money wisely and stay away from the above projects when looking to boost the value of your property.

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