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10 Home Improvements That Experts Say Are a Waste of Money
Homeownership offers the opportunity to personalize living spaces, but not all home improvements offer a worthwhile return on investment, especially if selling the property is a future consideration. Real estate and design experts advise caution on certain renovations that might deplete finances without significantly increasing a home's value or broad appeal to potential buyers. This article outlines ten such improvements.
Overly customized kitchens, while appealing to the current homeowner, can be expensive and may not resonate with a wide range of buyers, potentially hindering resale. Jeff Holtsclaw, a real estate agent at Century 21 Bradley Realty Inc., highlights that costs can spiral without careful budget management, diminishing the return on investment. Similarly, installing a brand-new pool, particularly in climates where it won't see consistent year-round use, often involves significant upfront costs and ongoing maintenance expenses, as noted by Sofia Vyshnevska, co-founder of NewHomesMate. Pools can also make a home harder to sell due to these factors.
Another questionable renovation is replacing a bathtub with an oversized steam shower. While luxurious, these are highly tailored and expensive, appealing to a niche market rather than the general population. Interior designer Sara Malek Barney of Bandd/Design suggests that a standard upgraded shower with an existing tub offers broader appeal and better resale value. Over-the-top landscaping, including elaborate gardens, water features, or outdoor kitchens, often fails to provide a good return on investment. Michael Valente, founder and CEO of Renovation Sells, points out that high maintenance costs and personal buyer preferences can limit their value. Practical landscaping that boosts curb appeal without excessive features is generally preferred.
For older homes not undergoing a complete overhaul, isolated aesthetic updates like replacing a single countertop are often financially inefficient. Jessica Hoff, a real estate agent at Century 21 JRS Realty, explains that such piecemeal renovations may not significantly add value and can cause unnecessary stress and costs for sellers. Furthermore, opting for costly high-end plumbing fixtures in bathrooms and kitchens can be problematic. Kyle Dutton, a residential construction expert, warns that while attractive, exclusive brands often lack readily available replacement parts or technical support, making them a poor long-term investment.
Converting a bedroom permanently into an office, especially with built-in, expensive features, can negatively impact resale value by reducing the number of bedrooms. Experts recommend more versatile office solutions that can easily revert to a bedroom. Chasing the latest interior design trends is another pitfall. Vyshnevska emphasizes that trends quickly become outdated, leading to a constant need for renovation to maintain a modern aesthetic. Similarly, creating ultra-specialized spaces like wine cellars, home gyms, or movie theaters can deter potential buyers who prefer versatile, multi-purpose rooms. These specialized areas may require buyers to incur additional costs for conversion, making the property less attractive.
Finally, small additions to a home, such as enlarging a closet or adding a tiny powder room, may not be financially sound. Dutton explains that fixed costs like architectural and engineering fees for small-scale projects mean the cost per square foot can be disproportionately high. Larger additions, where these costs are spread over a greater area, tend to offer better financial sense. For small-scale improvements, maximizing existing space through professional organization or design is often a more cost-effective approach. Balancing personal preferences with potential resale value is crucial for homeowners considering renovations.
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