As a homeowner, you want to improve and personalize your house to create the perfect living space for your family. Many homeowners choose updates that will give them a good return on their investment If they decide to sell in the future. When planning upgrades, consider what that project might be worth to a potential buyer. Here are a few home improvement projects with a low ROI
Customized Hobby Space
One of the benefits of homeownership is being able to personalize your living spaces to meet your needs. If you enjoy sewing, knitting, or model trains, you might dream of a space for your hobby. Customizing a room with shelving and equipment is a great way to showcase your interests. However, buyers who don’t share the same hobby won’t be as impressed by your sports memorabilia room.
When buyers shop for a new home, they look for the number of bedrooms and bathrooms in a property. If you use an extra bedroom to create a personalized hobby room, be prepared to renovate the space before putting your home on the market.
Projects with a Low ROI: a Swimming Pool
Building a swimming pool in the backyard can be a great investment if your family spends a lot of time at the community pool. Relax outdoors all summer and entertain friends and neighbors by the water.
While a pool might be the right choice for your family, don’t expect a buyer to be as excited by the upkeep and maintenance required of a swimming pool. Many home buyers view a pool as a hassle and just another chore for their to-do list.
Converting the Garage
If your family is growing or an elderly family member moves in with you, converting the garage to a bedroom would be a smart improvement for your household. Alternatively, you might feel the garage would make the perfect home theater. Your family enjoys movies, and it would be exciting to convert the space into a place to spend time together.
Potential buyers are often more interested in having a garage. Homeowners enjoy a place to park their cars and like the idea of an unfinished space they can customize to meet their own needs.
Luxury Kitchen Projects with a Low ROI
Not all projects are created equal, and some will have little to no impact on the value of your property. Luxury kitchen renovations are a prime example. You will make your kitchen more attractive and functional but won’t necessarily add significant value.
When thinking about luxury kitchen updates, remember that most buyers don’t want to pay for marble countertops and high-end appliances if they don’t need them. Basic upgrades offer a great return on investment, but a luxury remodel won’t interest most homebuyers. Therefore, unless you replace an old faucet with a brand new one or add extra counter space by installing an island, you’re unlikely to recover much money investing in high-end kitchen improvements.
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