If you plan on moving to a new house in the near future years, don’t invest money in home improvement projects at your current place that won’t increase its resale value of your home.
Some of these projects have been compiled in a list here:
1. In-Ground Swimming Pools
In-ground swimming pools cost a lot of money and while installing one may seem like a good idea, a swimming pool makes your house more difficult to sell as many people, especially families with kids, do not want to buy a house with a pool. Also, installing a pool greatly increases your energy costs and requires a lot of maintenance.
Only invest in a pool if you plan to stay in your current residence for several years and use it often.
2. Kitchens with High-End Accessories
If you plan on moving within a few years, and you want to remodel your kitchen, invest in quality, serviceable appliances that appeal to many people. Too much customisation in a home turns buyers away, and expensive, fancy gourmet kitchens won’t help you attract your type of buyer.
Of course, if you have a home in an upscale and high-end neighbourhood, then upgrading your kitchen to a “gourmet” status may increase its value, since buyers expect to see a gourmet kitchen in a high-end home.
3. Whirlpool Baths
It may sound fun and relax to take a hot bath after a long workday, but potential buyers will not pay extra for a newly installed whirlpool bath. Also, the costs for installing a whirlpool tub can be prohibitive. Many homeowners install luxury bathtubs, only to discover they need to invest in a larger hot water tank for the tub to work properly. Furthermore, installing a tub may result in high energy bills and additional monthly maintenance costs.
This is an expensive project that adds very little to a home’s value. Also, glass doesn’t provide insulation, so a sunroom also raises energy costs significantly in the winter and summer.
However, if you live in an area where many homes have sunrooms, adding one to your house may help you stay competitive when you decide to sell. Plus, adding a sunroom to your home may make your house more attractive to a specific group of buyers, but you probably won’t recoup your investment.
5. Expensive Landscaping
Landscaping can completely transform the way your house looks, especially to any potential buyers. However, if you go over the top to create a backyard paradise, while a good idea, it probably won’t add any value to your house when you plan to sell it. This project can improve your quality of life, but if you plan to sell your home, you won’t recover your investment in the sale.
Instead, you can make changes to your lawn to add some curb appeal to your home. Impress potential buyers with a well-kept lawn and some well-placed shrubbery.