We all want to get the most value out of our home, especially when it’s ready to go onto the market. Countless magazines and websites will give you advice about additions from swimming pools to outdoor kitchens, but which of these added perks will add value to your home? You may be surprised to find that some of the most common additions don’t help the resale value and in fact may hinder it. Here are a few things that might have a negative effect on their home that homeowners should be aware of when considering a new addition.
- Swimming Pool
Yes, it seems completely counter-intuitive that people would not want a swimming pool as a part of the house. After all, it provides a convenient place to exercise in the summer heat. However, studies show that most prospective homeowners not only consider a pool unimportant, it may even be considered a hassle. Reasons for this include cleaning the pool, keeping leaves and dirt out of the water, and other matters of upkeep that can become tiresome after a while for some. Therefore, if you are considering having a pool installed, it’s best to do so because you want to have one instead of using it as a way to increase the selling value of your home.
Beautiful as it may be in the pictures on the realtor’s website, extensive landscaping signals one thing only to a house hunter: work, and a lot of it. Keeping grounds maintained can be a full-time job, and in our workaday world, people prefer to keep their housework to a minimum. That includes the garden. However, don’t go entirely in the other direction and not include a garden at all, as most homebuyers do want the space and privacy to do as they please with their surroundings. This is especially important for those who have children or pets so there is room outdoors for them to play.
- Invisible Additions
It’s probably wonderful that you’ve upgraded the plumbing and insulation, but people looking at the house won’t be able to see what you’ve done. Therefore, it’s a renovation that’s worth more to you while you are living in your home than something that can increase its value. That said, if upgrades are necessary, they should be completed because selling a sub-par house isn’t a very nice thing to do. You wouldn’t want to be on the receiving end of that, so don’t do it to someone else.
- Wine Cellar
Unless your house already has one of these, or you are very invested in wine yourself, a wine cellar will not add any value to your home. People who are extremely dedicated to collecting wine are the only ones who might find extra value in the cellar, and there’s no way to tell if potential buyers are going to be the type who care that much about wine. The only reason to install one is if you personally would enjoy it; otherwise, save your money.
- Removing Walls
There’s something to be said for creating an open plan living space, since many older houses are much more cramped than we like to build them today. However, be careful that you’re not simply removing a room from the house, which will cause the value to go down. If you feel like you need to knock down a wall, make sure it’s something related to the main living space. An open plan dining and kitchen area is a positive, but one less bedroom can be a negative.
Overall, any prospective homebuyer is going to want to make additions to their own taste and specifications. Adding anything in the hopes of making your house more appealing to people searching for their next home might be more detrimental to your purposes than you know. Most people want to make a home their own, so it’s best to keep your house a blank slate for people who can imagine their own additions and improvements there. This is an important aspect of getting your home ready to sell and making sure that you’re not overdoing things just to put it on the market. As long as you keep any renovations or improvements to the simple and easily changed, you’ll find that your house will have value on the market. Your home should be a place that you feel is your own, and your buyer will want to feel the same.