During your time living in a home, you will be tempted to embark on many home improvement projects. While these efforts will adjust a home to your personal tastes, some improvements do not offer a good return on investment. Before you make changes to your house, consider which alterations will be most appealing to future buyers. Here are some common renovations that won't increase a home's market value.
An in-ground pool
The appeal of a backyard pool is undeniable in hot weather, but many potential buyers view these installations as dangerous liabilities that incur high maintenance costs. The cost for an in-ground pool ranges between $20,000 to $70,000 or more, and it will not add that amount to your home's value. In many cases, a pool will actually diminish the value of your house, and properly presenting the pool to potential buyers will require extra effort.
A home with a pool may also experience issues during the property inspection conducted before a sale. A pool introduces more opportunities for leaks and requires specific safety considerations to limit liability. A pool's financial burden is rarely worth a few days of summertime fun.
That fancy tub
Homebuyers tend to focus on bathrooms and kitchens when evaluating a home, but don't waste your time installing a jet-filled bathtub if you want to maximize your investment. While a massaging tub might be pleasant after a long day at work, buyers will see it as another piece of the home that could break. It's unlikely that they will consider it valuable enough to increase your home's worth. That money is better spent upgrading a bathroom's walls or fixtures, which offer immediate visual appeal.
New roof materials
While homebuyers and home inspection services will notice a leaking roof, very few are interested in a roof's aesthetic appeal. Reroofing your home to improve it's appearance might provide long-term durability benefits and increase the house's curb appeal, but it is hard to quantify this monetarily for potential buyers.
This lesson holds true for a variety of improvements that are useful but difficult to quantify, including changes to a home's heating or cooling system. While alterations will improve residents' quality of life, they're difficult to articulate on a brochure. None of these warnings should prevent you from tailoring a home to your specific tastes and needs, but be aware that every change isn't an investment that will pay off in the future.