Delinda HarrelsonThe Flipping Coach
Home Improvements That DON’T Pay Off
“Whichever future is all sunshine and rainbows – go towards that one.”
Whether you are rehabbing a home to resell, or if it your permanent residence and you are simply tired of looking at the same thing, then please go ahead… rent a dumpster and turn start rehabbing. Regardless if it is an investment rehab home that you know you will be selling soon, or your personal residence, please keep in mind that some home improvements and other renovations do not pay off in the long run.
7 Home Improvements That DON’T Pay Off
1. Loud Design Element
When I say loud design elements, it can be the walls being a bright pink or heavy patterned wallpaper. Some people don’t have the same vision as you do for the house. Even though it isn’t permanent and easily changeable, some people would rather not spend the extra hundred bucks to change a wall that could have been prevented.
Another kind of loud design element could be fancy light fixtures. Although it’s fancy and gives the feeling of luxury – spotlights give better light. There’s no need for a fancy ornate lighting – some people like the simplicity and the openness of being able to change it if they wanted to.
2. Outdoor Extras
Anything too specific – like a tennis court (if you had the space) or a playground. These extra installments and improvements only target a set of people that play tennis or plan to have or already have kids respectively.
Adding extra things to your backyard that’s specific to certain lifestyles closes the market. Focus instead on amenities that are a little more general. Like a built in barbecue – or if you have the space for huge amenities (like a tennis court) then leave the space for the new owners to bring their own vision to life.
3. Extensive Professional Landscaping
A nice manicured lawn and backyard is never a bad thing but having a large bonsai tree that grows out or a million shrubs surrounding the house and landscaping can be very off putting to potential buyers.
The maintenance of the fast growing shrubs on top of just the normal garden maintenance can either be a strain on potential buyer’s budget and time. Some people don’t have a green thumb and want the house to be not a lot of maintenance and that means sacrificing extensive landscaping.
4. Swimming Pool
If you live in sunny Florida then ignore this, because it will definitely add value to your home, however… if you live somewhere where it snows, it’s probably not a good idea. The thought of the maintenance of the pool that you have to do monthly is excruciating to some people – especially during the winter months.
5. System Upgrades
This is a weird upgrade that people would think that would add the most value to your home because it’s more efficient but I can tell you now that it doesn’t. Most system upgrades cost a hefty wad of cash and at the end of the day… all you got is a big bill and nothing to show for it. Of course, if you’re there for the long run, do it so you can enjoy the benefits of your upgrade. But if you’re looking to sell your house, spend that money on smaller upgrades that improve the look of the home.
6. New Carpeting
Most home buyers are looking for homes with hardwood and if they find a house that suits their personality (but it has carpet), they normally renovate all the floors to hardwood. If you love your carpet and you think it’s time to re-carpet… don’t. Hold off until you’re sure you don’t want to move out of the house. If you re carpet your home, chances are the new buyer is just going to rip it all out anyways
7. Over Improvements
If you spend a good amount of money on one part of the house, chances are that it won’t suit the rest of the house or it won’t even suit the rest of the home. Having an extravagant kitchen is really nice and elegant but having it out of place can really dampen the aura of a house.
Keep in mind that if you do want to sell this house, that an extravagant kitchen or bathroom or room might ruin the flow of the house and ultimately might be a make or break for the buyer. Most buyers don’t want to spend a good amount of their budget on an extravagant room that wasn’t done to their specifications and visions.