You might be thinking, “wait a second…worst improvements? Won’t improvements help my home’s value, not hurt it?” Well, most of the time, they will. But there are certain upgrades that cost more than they’re worth!
If you’re selling your Main Line home soon and hoping to add a few dollars to the listing price, you’ll want to avoid these costly home improvement projects.
New Swimming Pool
If you’re selling your home during the summer, you might be tempted to install a swimming pool before you list it. After all, what will entice buyers more than sparkling cool water while they’re touring homes in the hot summer sun?
In reality, swimming pools have a very specific market. If you live in pretty much any state besides southern Arizona, Florida, or Hawaii, they cost way more than they’re worth—not only in installation, but also in upkeep. More often than not, pools will actually dissuade a buyer from making an offer.
Maybe you want to up your home’s luxury appeal by building a grand entrance, increasing the size of the master suite, or installing a home theater. But you should think twice before you jump into any major updates. Does it make sense for a home in your neighborhood to have a grand Victorian entrance?
Odds are, big updates like this won’t matter as much to buyers as you hope, and the money you paid for them won’t be recouped when you sell.
While new roofing is definitely not a bad thing, there are much better ways to spend your money. Buyers will think of the roof as a given—out of sight, out of mind—so as long as it’s there and not in disrepair, then you shouldn’t pour any extra money into it. Of course, if it does need some patching up, do that before you list, but don’t use money on your roof that can be better spent elsewhere.
Customizing the Flex Space
Flex space is huge for buyers, because they like having the freedom to make the extra rooms in the house into whatever they want. So if you’re thinking about making that room on the lower level into a wine cellar, or converting your back porch into a sun room, just leave it to the buyers instead. Making the room an empty canvas will help them better envision themselves in the space!
Pricy Bathroom Remodel
It’s true that the bathroom and the kitchen are the most important areas of the house for buyers. But be wary of going overboard. Most people won’t know if your bathtub cost $500 or $5,000, so don’t max out your budget on things that won’t make much of an aesthetic difference.
Similarly, avoid taking things to a level of luxury that’s not needed, like adding a waterfall shower or heated floors. If your bathroom is in good condition and looks clean and new, then those major updates are not going to make a big enough difference to pay for themselves.
Ready to List Your Main Line Home?
Now that you know what not do to make more money on your sale, you might be wondering what you should do. Luckily, I’m here to help! Check out a few of my seller’s resources, including my home value estimator and staging tips, and give me a call when you’re ready to make top dollar on your sale.