home improvements that waste money

5 Home Improvements That Waste Your Money

Thomas Gilliam adding value , Blog , Farmington Hills , home improvement , home improvment projects , homeowner tips , Oakland County Leave a Comment

Home Improvements to Avoid When Selling Your House

Home improvements a bang for your buck? Don’t go out just yet with your tool kit, expecting those YouTube DIY tricks to work out perfect. It rarely happens!

The problem is many sellers believe that taking on home improvement projects themselves will help them save on repairs and insurance. When you are targeting something major, first think about how much the repair or renovation will impact the value of your home for sale on Oakland County, Michigan.

Some projects yield high ROIs, which are easy to do on your own such as painting the interior, while others are difficult such as roof repairs and extensive plumbing installations. In the end, you might be looking at a costlier repair than the small patch that could have been fixed for $100 by a professional.

Even if you are making a new addition to the house, think long and hard before doing so. Do your research and make sure that the features you’re planning to add to your house are present in houses across the neighborhood. If they’re not, and you still proceed with your plans, you could potentially lose all your money.

Home Improvements May Wind Up Costing You In The Long Run

Here are a few such features that require extensive research before being added to mitigate risks of losses:

1. Swimming Pools

Unless the buyer demands a swimming pool and agrees to your asking price without demanding insurance for repairs, this improvement might work in your favor. An in-ground swimming pool can cost somewhere between $20,000 and $60,000. It might sound surprising but many rational homebuyers and investors might not prefer swimming pools due to the high maintenance costs involved.

2. Sunrooms

Beautiful, right? High ROI? No! A sunroom does not even guarantee a 60% ROI. You will be better off building a deck in the backyard and furnishing it with chic furniture. The ROI on a deck is much higher and is an improvement that is loved by all buyers, especially those who have a big family.

3. Home Office

A home office is yet another feature you need to think about twice. You can never be sure that the next owner would be an entrepreneur or would use the space to work from home. A home office costs around $20,000 and rarely pays even half of the value on your home for sale on Oakland County, Michigan.

4. Garages

If you already have a garage, then don’t add extra space to it. The buyer might not want the extra space and can refuse the offer on the basis of it. Since, you will be adding a large margin to the asking price; buyers might not find it realistic.

5. Master Suite

This is an improvement you need to think on when you buy the house. How long do you plan to live in the house? More than 20 years? No? Then, you better stay away from this improvement. Master suit only promise a 40% on the sale of your house.

Keep the improvements to a minimum and limit them to the kitchen and bathroom because these are two rooms that are used the most. Before putting your home for sale on Oakland County, Michigan on the market, why not get it appraised by experts. Visit Homes2MoveYou now and get yourself a real estate agent like myself  to help you every step of the way.

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About the Author
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Thomas Gilliam

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I'm a Professional Realtor for 17 years with RE/MAX CLASSIC in the Oakland County MI and the Metro Detroit area and love what I do. Real Estate is my passion... Exceeding your expectations is my goal!