(FinancialHealth)- All of us take passion in making our homes look impressive. Our homes are an extension of us in a sense. They represent who we are as a people, what we stand for, and what type of personality we have. Yet, when it comes to increasing the resale value of your home, you’re going to have to make a whole bunch of other calculations.
So before you take out that drill and start drilling, think about how this might affect your house’s image in the market. Some projects are worth the money and you’ll discover some aren’t at all. Hence, we’re going to show you the projects that you should be staying away from. This is your chance to focus on what matters the most to maximize your house’s price!
Flooring Installations
Many people may think that the most cost-effective flooring installation is to have a wall-to-wall carpet. Though it may be true that the prices are very good, you’ll end up spending a lot more selecting a carpet that will last long. Most carpets don’t last very well at all. Additionally, if you have kids or a dog, they’ll also give your carpet a fair share of abuse. As for the resale value, you could be in for trouble! First, you’ll have a tough time selling a house with stained and worn-out carpet. Second, even if your carpet is in good condition, prospective buyers might not like the color or look. It’s a roll of the dice really!
Now, some would say that you can always do a hard surface installation with either hardwood or tiles. However, you’re still at risk of falling into the same problem. If the buyer doesn’t like it, it’ll have to come out. Then, you’ll end up spending thousands to rip out a floor you spent a fortune to install.
Don’t Get Carried Away with Bathrooms
Bathroom renovations are not so simple! If you want a general principle to follow, it’s best to focus on basic cosmetics when doing bathrooms. For example, if your grout has stains or is old, then you should regrout it. But if we are talking about tiles coming loose and small bumps on the floor, then you definitely need another tile installation. Many experts say that spending too much on bathroom renovations really adds little or no value to the property at all. Save your money for something that will really make a difference.
Be Modest About Your Landscaping
It may be surprising to know that many prospective buyers would find high-end landscapes very unappealing. Having fancy water features and a biodiverse array of different types of plants may entail high maintenance costs. Be modest about the landscape. Make it look presentable, while not being too fancy. A little simplicity can go a long way, and maybe it can even score you a sale!
Hiring a professional landscape architect isn’t necessary. If you know enough about gardening yourself, you’ll be able to handle it. But if you feel that you might not be up to the job, perhaps you can pay a gardener to have a look at your place once in a while.
Getting Yourself a Pool
It may sound like an appealing idea, but it won’t get you much in terms of resale value. As a matter of fact, you’ll almost definitely end up regretting it. First, buying and installing a pool is very expensive. Second, keeping up with the regular maintenance costs is also challenging. This is going to be torture for your bank account!
Some experts have said that having a pool installed will hardly add 7% to the total value of your property. In addition, real estate agents have even claimed it might cause the property’s value to drop.
~Here’s to your Financial Health!
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