Before putting your home on the market you may be looking for some projects to elevate your home’s value. Before you start working, be sure you know which projects won’t give you the returns you want.
These Improvements Won’t Increase Resale Value
If you’re getting ready to sell your home, but you want to make some improvements to your home to increase its value, this is a great idea. However, it’s important that you keep in mind that not all updates or renovations will pay off. Below are some common projects that won’t give you the return you’re hoping for.
A New Swimming Pool
Who doesn’t love a swimming pool on a hot summer day? You may be surprised to learn that not everyone wants a pool, especially not in their backyard. Many home buyers may have concerns about high water bills, wasting water, the cost and work of maintaining a pool, and the safety of it all. Potential buyers with small children may even turn down a home because of safety concerns. On top of this, consider how much it will cost to get a pool built in your yard. The price of your home may not go up as much as you may think, meaning your investment will lead to money down the drain. Really think this through before you decide to go through with it.
A Converted Garage
A converted garage may sound like more square footage to most people, but this isn’t necessarily true. Keep in mind that there are strict rules when it comes to what gets counted towards the square footage of a home. Heating, cooling, windows, and a proper roof are all part of the requirements, so if you’re converting your garage, it will have to meet these requirements and more. Beyond this, most home buyers want a garage to store their car. Leaving their car out in the hot sun or in the winter cold can lead to more car troubles, which can mean spending more on maintenance. Instead of taking away a part of the home they will want to have, just give this area some maintenance so it looks like it’s in good shape.
Getting New Flooring
Unless your current flooring situation is a mess, you won’t need to get new flooring for your entire home. Wall to wall carpeting, new hardwood floor, or even tile may not be everyone’s cup of tea, so even if it’s new, it may not be very appealing to buyers and it may not elevate the price of your home. Since many buyers won’t even keep the flooring you’ve invested in, it really isn’t worth throwing money at it. Instead, focus on getting your current flooring to look clean and tidy so that your home looks well put together and well maintained. Whether you’re buying or selling a home, don’t forget about the importance of title insurance in Worcester at closing. To learn more about title insurance, contact the title insurance experts at Home Key Title. Give them a call at (508) 475- 5502 to learn more.
High-end upgrades anywhere in your home likely won’t give you the returns you’re hoping for. Let’s say you get new marble countertops in your kitchen along with the latest appliances and smart technology. It will certainly look nice and modern, but to potential buyers, it’ll be just that. Chances are they won’t understand how much those upgrades are worth and they may not even need or want all the new technology. In the end, this won’t add value to your home in their eyes, meaning they won’t want to pay much more for your home compared to a similar home without the luxury upgrades. In fact, if the rest of your home isn’t on the same level as this one area, it can hurt the value of your home.
Over the Top Landscaping
A great yard can do wonders for your curb appeal and can attract plenty of potential buyers. With that said, a great yard may not need much more than a lush, green lawn, and some basic upkeep. Keep your lawn trim, get rid of the weeds, keep the edges tidy, and take care of bald spots. Rake up leaves when necessary and water it regularly. You really don’t need to overhaul anything in this area to spark interest in your home.
Purchase Title Insurance in Worcester
If you’re ready to purchase your dream home, be sure you have title insurance in Worcester to protect your home investment. Contact the title insurance experts at Home Key Title at (508) 475- 5502 to learn more about the importance of title insurance.