Can Your Current Home Handle The Renovation

Can Your Current Home Handle The Renovation

The tricky part about upgrading your home is knowing which projects to skip. Sounds simple, right? Not necessarily. Many remodeling projects sound good in theory, but don’t recoup their costs when it’s time to sell the house.

Here are four upgrades that might be best to avoid if you plan on selling within the next few years.

Number 1. Over-the-top improvements that price you out of the market.  

If you want to turn your cozy cottage into a luxurious den with diamond-studded bathrooms and a designer kitchen, stop. Will these expensive changes fit in with the rest of the ranch-style houses on your block, or will they price you out of your neighborhood? Only make improvements that make sense for your market.

2.  Swimming pools rarely make a splash.

They cost a small fortune to install, and they usually don’t recoup the investment. The money and maintenance that pools require can be daunting. And families with young children often avoid them out of safety concerns. Some buyers like them, but many see pools as a headache.

3. Popular features are there for a reason.

So you want to turn your garage into a game room. If every other house in your neighborhood has a two-car garage, think twice. Selling the only house on the street with no parking might be tough.

And number 4. Don’t be so daring.

Selling a house is not the time to incorporate bold décor choices. If the master bedroom has flamingo wallpaper and lavender carpet, many buyers will dash out the door. Tone down eclectic tastes so it’s easier for potential buyers to imagine your house as their own.

Read more:4 Home Upgrades That Don’t Pay - Video | Investopediahttp://www.investopedia.com/video/play/4-home-upgrades-dont-pay/#ixzz3nS6sdFcJ

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Dated: October 2nd 2015
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