Do you really want to add value to your home? If so, you might have already started considering making a few improvements with that particular goal in mind. There are quite a few projects that might exceed any and all expectations that you might have.
For instance, real estate agents estimate that upgrading your garage door is one of the most profitable home improvement projects. In fact, it can increase the value of your home by as much as fourteen thousand dollars! However, doing it requires special tools and might prove challenging if you have never done it before.
When it comes to such projects, it would be best to contact a professional. For instance, if you happen to live in the Deep South, there are quite a few companies specializing in garage door repairs in Austin, Texas. Even if your garage door works and looks just fine, they will be able to tell you if anything can be done to make it even better.
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While a brand-new garage door attracts potential buyers, there are many other home improvements likely to produce the opposite effect. As a result, they have the potential to lower the resale value of your home by tens of thousands of dollars. Keep on reading to find out what they are!
Front Yard Landscaping – Is It a Good Idea?
Many homeowners take pride in putting in the effort to make their front yard look well-maintained. They might spend thousands of dollars on unique plants and outdoor lighting, as well as hire a professional designer.
Once the property goes on sale, it might encourage potential buyers to take a look at the property, but it will not add to its value all that much. Why? Some buyers do not have the time and energy needed to maintain a garden. They will perceive it as a burden. As a result, they will not take it into account when placing value on the home.
In conclusion, elaborate landscaping will make your house look pretty and inviting. However, you should not perceive it as an investment into its value. Maintaining a garden is a huge responsibility that many homebuyers are often unwilling to take on their shoulders.
A Swimming Pool – High-End Luxury or a Standard?
A swimming pool is a great place to relax and have fun with your loved ones. However, getting one and then keeping it in top shape can turn out to be quite a hassle. The average cost of installing a pool exceeds $25,000, and the maintenance costs amount to as much as a few thousand dollars every year.
On top of that, many buyers view swimming pools as dangerous. After all, their child might wander in unsupervised. The same goes for the children of the neighbors. If one of them ends up drowning in the pool, their parents might file a negligence lawsuit. Many people are not willing to take such risks.
The situation is quite different if swimming pools are a standard in your area. It is often the case in states such as California and Florida, where a swimming pool is a must-have in many neighborhoods.
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Overbuilding – Does It Add to the Value of a House?
As their family grows, many people find themselves in need of additional living space in their house. One solution to the problem that does not involve moving out is remodeling the property to fit their needs. Even though it might make the house look more appealing, it is not very likely to add to its asking price.
For instance, imagine that you added a second story to a house located in an area full of small, one-story homes. If you raise its price according to what you spent on remodeling, it will make the house look ridiculously overpriced compared to other properties in the area. Consequently, such ambitious projects are best avoided.
Invisible Improvements – Are They Worth It?
Invisible improvements are projects that make your house a better place to live in but are likely to go unnoticed. It can be a new plumbing system or a house alarm, to name a few.
Homebuyers expect such things to be in top shape and do not take them into account when placing value on your home. So, even if you spend thousands of dollars on a new HVAC system, you should not expect to get that money back.
However, you can use these improvements to your advantage. Try to think of their features and see if any of them are particularly interesting or useful. Maybe your HVAC system is particularly energy-efficient? Or perhaps the house alarm makes use of state-of-the-art technology?
Once you pinpoint such characteristics, you can mention them when talking to any potential homebuyers. As a result, you will make them feel more excited about purchasing your home!
Wall-to-Wall Carpeting – A Good Investment?
Did you know that many potential buyers might cringe at the idea of having wall-to-wall carpeting? All the chemicals used to process it and its potential to trap all kinds of allergens are perceived as somewhat problematic. Additionally, the color and texture you thought was perfect might not be what someone else had in mind.
Instead, you might want to do the opposite. Consider getting rid of any carpeting and restoring or installing wood floors in your house before selling it. They are simply guaranteed to add value to a home when the time to sell it comes around.
Inconsistent Upgrades – Can They Increase the Selling Price?
All of the upgrades that you decide to invest in should be consistent with your home’s overall style and quality. Brand-new stainless steel appliances and designer furniture in the living room may do very little to increase the value of your home if all the windows are drafty and the bathrooms look as if they were stuck in 1962.
The bottom line is that high-quality upgrades are more likely to increase the value of high-end homes. In mid-range houses, they might not work as expected. Instead of increasing the sale price, they will probably end up sticking out like a sore thumb.
Be Smart About Increasing the Value of Your House!
Make sure to do your research before you start investing in costly home improvements. Just because something requires you to spend tens of thousands of dollars does not mean that it is guaranteed to become a selling point. Moreover, if you do not think it through, potential buyers might find the upgrade you come up with completely unnecessary or even dangerous.
All in all, instead of trying to go through with the most expensive and not necessarily useful projects, you should focus on things that are bound to attract all kinds of buyers. Most people value safety and functionality above all else, so these two characteristics should be your top priority.
To sum up, if you are planning on increasing your home value, start doing something about it right now! Make sure that your house is well-maintained, read up on the most practical home upgrades, and make wise purchases. All the efforts that you put into it should pay off soon enough!