7 Things That Won't Increase the Value of Your Home

One of the most common assumptions homeowners make is that renovations and upgrades will increase the value and 'sellability' of their building. Truth is, there are a lot of home improvements that do not add any value to the home. Some of them could even reduce their market value when they're eventually listed. We'll be taking a look at seven popular upgrades/renovations that are actually valueless. 

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Getting a New Roof and/or HVAC System

While several buyers acknowledge the effort of a homeowner that sets up an HVAC system or even a brand-new furnace, they won't be paying extra for these upgrades - same as with a new roof. Roofs have an average life expectancy of 30 years, so replacing one which is past this is more issue maintenance rather than an upgrade.

Utilities Upgrade

Even if you've spent thousands of dollars upgrading your building's electrical wiring, or replacing the sewer connections or even plumbing, you shouldn't expect them to increase the value of your home. The reason isn't far-fetched; these improvements are seen as building maintenance. Sure thing you can decide to renovate your building if you like. Just note that certain places consider them a set standard which could hamper your building’s sale when it’s time to. But for increasing your building’s market value, that’s what you shouldn’t hope on.

Extensive Landscaping

That extensive landscaping you're adding is typical of no market value, so if you'd be adding fixtures and landscaping options do so because you love the feature. If you're doing so because you plan to include it in the sale price, you'd probably be disappointed. No amount of landscaping will improve the worth of a house as it’s a personal preference.

Spas & Swimming Pool

Another option people tend to mistake as an added value for home are personal spas and swimming pools. The thing is, they are not. In fact, forget those commercials which shine the spotlight on swimming pools as a favorite spot for kids (ignoring the possibility of drowning). Aside from the fact that these amenities are costly to set up, they're also tasking to maintain. This is the reason many people looking to buy a home won't pick one with a swimming pool or spa. They don't want to get tangled in the safety issues and maintenance required. Many a time, a prospective home buyer will ask that you take off the pool. Want to add one? Do so because you like it.

Painting

Even if you find a realtor to advise you about cost-efficient improvements to make your home shine before it's listed for sale, the painting will definitely be the major recommendation. While this is good, it won’t increase the value of the home though. In fact, unless you painted it yourself, you might not recover the costs. There’s no doubt fresh painting attracts more buyer eyes, but appraisers won’t be giving your home any value boost because you applied fresh coats.

Solar Panels

Your environment will thank you for installing solar that’s for sure. But does it really increase your home’s value as the salespeople over at the solar company said? Sadly, no it doesn’t help in boosting a building’s selling price.

Room Conversions

Your home’s resale value will be affected if certain expectations of prospective buyers are not met. If for instance, you had three bedrooms with two bathrooms before remodeling, converting to a two-bedroom as you don’t need the added space. You’d find that your resale value will be limited instead of improving. While you’d have preferred to convert that extra room to a video game or recording studio or even a walk-in closet like your favorite celebrity, most buyers don’t consider those. They’re after more rooms for kids and visitors.

Finally, putting your all in improvements only to realize it's a bad call when your property value doesn't go over the roof as you would expect can be devastating. The good thing is, although many of the listed upgrades/improvements won't get you crazy profit as you expect, they can help to make selling your home easier.

Hire a competent real estate agent

The truth is, selling your home won’t be an easy task; you need the help of professionals such as listing agents. You can ask family and friends to recommend good listing agents. Before hiring, check their professional records and associations they belong to. If you’re satisfied, conduct interviews; it’s preferable to find a realtor that is vastly experienced and well connected. Also, be clear on the amount of commission (usually 6%), and if possible try to negotiate. Finally, ask for references, that is, records of homes they’ve listed in the past. Then compare agents based on the information you’ve gathered. If you still have doubts, contact a few previous clients and ask them questions; most importantly, ask if they’d hire the agent again.