I’m sharing the five major things that will not increase the value of your home.
Today we’re going to discuss several things that won’t increase the value of your home:
1. Extensive professional landscaping. It is critical to have great curb appeal, some plantings, and not have a barren backyard. However, $100,000 landscaping jobs generally translate to about a $10,000 increase in the value of your property. So minimal landscaping is best.
2. Replacing big-ticket items. This doesn’t increase the value of your home. For example, buyers purchase a home expecting that the heating and air conditioning units are going to work. You get a slight increase for new items, but not what they originally cost.
3. Swimming pools and hot tubs. Pools now add a bit of value to your home, but if your pool cost $60,000 to install, you’re likely to get about $15,000 value back out, if it’s in great and new condition. Many factors contribute to lowering the value of a pool.
4. Having a professional paint your house. Don’t worry about the paint so much—decluttering is actually more crucial. If you pay a professional to paint even a small area, it’ll likely cost a few thousand dollars. If you can do it yourself, you should.
5. Installing new solar panels. Solar panels are becoming fairly popular again, but they can be expensive and you cannot get the full value back. If you’re going to put solar panels in, stay awhile, then sell. Some buyers don’t like solar panels because they won’t know how to care for them and will have to pay someone to check them.
Bonus: What you can do to increase the value of your home: Add a beautiful new deck! If you have a deck large enough to fit furniture and a grill, and it’s new and in excellent condition, you can frequently get 100% of your money back!
If you’re wondering what buyers will and won’t be willing to pay for as you start fixing up your home, call me. I’ll talk you through it, take a look at your home, and let you know whether or not you should do something differently. If you have any other questions, feel free to call or email me. I would love to help you!