If you’re thinking about renovating your home this year, you should first ask yourself why. If your answer is to increase the purchase price, then you should first understand that not every renovation will add value to your home. That’s why it is wise to talk to a professional first to make sure you’re making the right decision for your goals. But until then, here’s a little information to help you get a better idea of the types of renos which don’t always increase your home’s value.
Swimming Pools
Many potential buyers see a swimming pool as a danger to their children and also an expensive item to maintain. Inground swimming pools are also very expensive to put in and fill, which is a cost that you may never recoup when you go to sell your house.High-End Remodels
Before you decide to do a pricey remodel to make your house the biggest and nicest on the block, you need to consider the average sale price in your neighbourhood first. For instance, if the largest house on your block sold for only $150,000, you probably won’t be getting much more than that when you sell, especially if the others homes in the area are much smaller. If the only reason you’re adding a large second story or new addition is to improve your sale value, you should maybe think again.Expensive Carpeting
Beautiful carpeting can transform the look of your home, but it doesn’t always increase the value. Not everyone likes carpeting. Some people prefer natural hardwood or tiles. It is also a very personal design choice, and the colour and style you choose may not suit other people’s preferences. And considering that carpet is expensive to buy and install, it’s unlikely you’ll be able to recoup the cost by the time you go to sell your home.
