Like many people, homeowners are choosing to currently stick with their property and improve it while the market recovers. If you’re planning on moving and selling within two to three years there are some projects that simply won’t recoup your investment.
If this sounds like you, here are the projects that you should avoid or reconsider when you are doing your home improvements.
Swimming pools
It’s blistering hot in summer and you think to yourself that a swimming pool is a great investment that everyone would enjoy. However they can make reselling very difficult. Families who don’t have time for the constant upkeep or families who have small children will avoid them without question.
On top of that the price of the pool can be quite high depending on what type you get. If you want to use it during winter and you opt to get it heated, that’s just another added cost that won’t be recouped when you sell.
Deluxe kitchens
You may love that expensive stove top that cost you a small fortunes but at the end of the day the price you paid for it won’t be recouped when you sell. If you’re planning on selling and moving within five years definitely stray away from high end and deluxe kitchen models.
Instead go for something that is affordable and practical. Another thing to note is keeping your property similar to others in the neighbourhood. Making it the most expensive on the block won’t attract the right buyer for your home.
Spa baths
The appeal of having a spa at the end of the day may sound good but potential buyers won’t pay extra for a newly installed one. Additionally after a spa bath is installed, many homeowners realise that they need to invest in a larger hot water system to accommodate for the new feature.
On top of installation and upgrade costs, these types of bath tubs will also increase your energy bill costing you thousands of dollars overall.
Sunrooms
Many people really want a sunroom in their home but are unaware of the overall cost of the project. It’s a very expensive project that adds little to the overall price of the home. They recoup less than half of their cost and on top off that, glass provides very poor insulation. So that sun room that you want so badly is costing you even more money after it’s installed.
On the other hand homes that are near the beach where other homes do have sunrooms should be considered. It’s important to be competitive on the market so if your neighbours have a sunroom and you don’t you could be missing out on new potential buyers.
