All home remodeling jobs come with a price tag. It wouldn't be part of the game if money and time weren't a consideration. However, not all improvements are created equal, and some home improvements are just a waste of time.
For some homeowners, their choice of improvement is all about what they want now -- a new pool in an area where pools downgrade a home's value? "So be it," they think. "I want a pool. Bottom line."
For others, however, choosing a home addition that will bring value and add equity is the first thing they look at above all other considerations.
While we wouldn't dare intervene and tell someone that they shouldn't follow their home design dreams, we will add our two cents about what incorporates value and what does not.
In this post, we'll outline some home improvements that you should avoid when it comes time to remodel your home.
1. Home offices do not bring much value to a home -- no matter where they are located and how nicely they are designed. It's fair to say that a home office actually hurts resale. What buyers want is square footage. Where they want it is in bedrooms, not in a home office. If that comes later, so be it. But we recommend not remodeling an entire space as a home office unless you are ready to face the consequences.
2. A master suite is an amenity that most people agree is worth the cause. There are few better things than an entire area of your home devoted to you. We have to warn you, though, the cost that goes into creating a master suite (including a bathroom) rarely recoups its cost. So while we agree that a master suite is a nice feature, don't expect to get much of a return on this type of investment.
3. Adding a second story to a home is an expensive process. The time and money that you put into adding a second story to your home is similar to its existing price. So while a second story might appear attractive to you, when you add that much extra square footage to your property your taxes will shoot through your new roof. There's a good chance that your home is designed like it is for a reason. So think long and hard before taking this step.
4. Sunrooms add three seasons to your home and often take the place of adding a deck or patio. So even though a sunroom seems like a sound investment, it will recoup very little of its installation cost. Why? Because not every buyer sees a sunroom as a space maximizer. They will, instead, see it as a burden or as something to remove, instead. Our advice? Avoid sunrooms or go with something temporary.
5. Kitchens sell homes. It has become an industry standard that a nice kitchen helps to move a property at listing time. However, designing a kitchen to look and act like that of a master chef could throw a cooking utensil into your resale plans. Why? Because future home buyers might see your dream kitchen as an expensive room to maintain. By outfitting a kitchen with the "latest and greatest," you could be doing more damage than good.
If you really want to ensure that your home is on the shortlist of equitable properties, we recommend working with a professional contractor, architect, and designer before diving head first into the pool that will hurt your resale value. It may just be the first, great investment that you make in your home.
For more information on how we can help you with building your dream home, please contact us today.