Americans spend $400 billion annually on remodeling, but they’re not all adding value to their homes in the process. Whether you’re dreaming of adding a big-ticket item like solar panels or a swimming pool, or you simply want to upgrade your kitchen, gauge how your project will impact your property value before you commit.
We crunched ROI data and spoke with two top real estate agents to round up 10 home improvement projects that do not add value to your home. We’ll break down why these common home improvements won’t increase your property value as much as you expect.
- DIY home improvement projects
- Garage conversions
- Solar panels
- Quirky wallpaper
- Custom luxury upgrades
- Wine cellars
- An oversized home edition
- Remodeled basements and attics
- New windows
- Swimming pools
The Bottom Line: Not all home improvements add value
A final word to the wise: Consider your selling timeline before you embark on a home improvement that does not add value to your home. If you plan to sell your home in the near future, it’s best to spruce it up with a new coat of neutral paint and other improvements proven to add value and increase marketability.
On the other hand, if you plan to stay awhile, Suits shares it’s okay to focus on home improvements that bring you joy, even if they don’t add significant value to your home:
“Do whatever makes you happy. To me, that is really what homeownership is all about. Just realize you might not get every dime back, or you might have to make a modification to it. Chances are, if you love something, someone else might too.”
Read Full Article [Source: www.homelight.com]
