Many homeowners think that the more elaborate and costly their home improvement project is, the better it is for the value of their home. That may be true in some cases, but not in all. Some projects may end up costing a fortune without adding anything to the property’s value; some may even make your home lose value.
Beware of “home improvement” projects that don’t improve anything
Some projects that are intended to make the property earn more market value may actually achieve the opposite. It doesn’t always happen, but it could if your project is the wrong one. For example, a modern luxury kitchen has no business in a classic 1800s mansion. People who come in and look at the house are interested in its original state, not in any modern transformation.
Sometimes it depends on the location. For example, if your house is located in a neighborhood popular with young professional couples instead of big families with lots of kids, an Olympic-size swimming pool may not be the best idea for an improvement.
If cost is not a problem with you, and you don’t intend to sell the house anytime soon, then you may be justified in doing whatever you want. Just remember that you may never recoup your project costs should you ever decide to put your house up for sale.
Some home improvement projects do work
An expert from Gate Hardwood Floors says there are projects that do achieve that value-adding effect. Most of them have to do with care and maintenance, though, and some are more subdued than others. For example, improving your flooring system by hiring a professional for wood floor restoration in Orange County, CA, is more sensible than putting in an indoor pool.
Another good project is insulation improvement. The more insulated your home, the more attractive it is to buyers. It gives them a feeling of comfort just looking at the dual pane windows and insulating doors and siding.
In the mind of a potential buyer, the less likely they are to spend more money and time repairing a house, the better the deal, even if they have to spend a bit more now. They would rather buy a house that the owner obviously cared about than one with a pool or modern kitchen they would probably never use but have to spend money to maintain.