Home renovations are the best way to get the most money for your home. But be smart! Not all things that make a house look good will reap resale profit. Use your renovation budget wisely to ensure you investment will ultimately benefit you the most in the long-term.
Personal pools great for summer parties? Yes. For resale value? No. Getting a pool installed in your backyard is an expensive venture that may not return the financial benefits. The hassle of maintaining and paying the costs for the up-keep of a pool is often greater than the benefits for buyers. Pools are often seen as a waste of green space, extra maintenance costs and if not properly enclosed, a danger for young children.
Transforming a spare room into a solely dedicated home office may not reap the benefits you would expect. Putting in tailored items that work only for an office, often block the possibilities of the flex space. Not everyone works from home, and therefore a personal office is a not efficient use of space. Buyers most likely will use the in between space as an additional bedroom or family rec room.
Sunrooms are beautiful add-on features to a home, however are not as highly valued in resale value. Building a sunroom actually has a less than 60% return value. Instead, consider cheaper outdoor living options like installing a patio.
Your home should reflect YOU. However, when considering resale value extremely personal permanent décor choices will not reap benefits. In particular, if the property is only a short term home and not a long-term family property stick to easily altered decor. For example, choosing an extremely personal and bold wall color will ultimately need to be changed before listing. Instead, to decorate consider keeping your walls neutral and show your style through bright accent décor like bedding or throw pillows.