3 Home upgrades that won’t add enough value

Increasing the value of your home is important, but it is important to make the right upgrade that gives you value above the cost of the upgrade. Here are 3 Home upgrades that won’t add enough value.

Adding a pool – Pools can be a benefit, but sometimes a hindrance when renting or selling a property. If the climate in your area is warm most of the year, a pool upgrade will have a favourable response from buyers. You should also consider the maintenance costs involved in maintaining a pool. Some buyers with small children will consider a pool a turn off, due to safety concerns. If your property is small and more suited for a middle income family, they would not have the extra money to deal with the added maintenance cost of a pool.

Highly custom design decisions – Personalized renovations, like bright colours, fancy tiles and glass or ornate walls and fixtures, may not be to the liking of most buyers. If you intend to live in your home for many years and never intend to sell it, these renovations may be worthwhile. Remember that a buyer will factor the cost of redoing these renovations when purchasing a personalized home. This will mean that you will receive a lesser price or rent on your home.
Room conversions – Converting your existing rooms into a walk-in closet or a large living space, will place your home on a lower listing. This is mainly because homes are listed according to the number of rooms you have. This will have direct link to the rent or price you can ask for your home.