5. No Need For Extravagant Landscaping
There is no need to go overboard with your landscaping. Although this may make your home more appealing to buyers, it won’t add value to an asking price. But, it can improve your quality of life if you plan to live in it for many years. Being able to enjoy the landscaping during the warmer months will be the only value that you’ll see if you plan to sell.
An alternative to expensive landscaping, try adding curb appeal to your existing lawn. You can “Wow” your future buyers by showing that your lawn is well-kept because using some beautiful shrubbery or trees can increase overall value. These lawn projects can make a little more profit, depending on what type of changes you make. I would suggest going with a classy but subtle look to help your home stand out in the crowd.
6. Creating More Rooms
Creating another room can be an expensive project and the cost could run in the thousands. If you remodel the master suite your investment return will be around 65%. If a family room is added then you’ll see 60%. These low investment returns are because home buyers don’t want to heat 3,000 square feet when they are happy with 2,000 square feet.
The only exception to this rule is the addition of a bedroom. The addition of a bedroom increases appeals to many groups of buyers. If you have a huge space, dividing it with a wall to create a room will save money for the renovation. Don’t forget to add a window and a closet so it qualifies as a room. Then you can add interior design ideas to it once complete.
If you need help understanding building codes, your builder can educate you on the requirements of an added room. If you’re unable to list your home mentioning the added bedroom, you can list it as having a bonus room.
7. No Need For A Home Office
Do you really need a home office? Chances are, you don’t need that luxury. Outside of not needing it, the cost of renovating for one can be around $25,000. This will only give an investment return of around 46%. It’s more of a financial loss than a gain. This loss is also due to the constant replacing of outdated technology so you won’t see any additional profits by the time your home sells.
The majority of people who have a home office really only need adequate lighting, and a desk with chair.
8. Forget About The Roof
Trying to increase the selling price after adding a new roof will get you nowhere. Your new roof will only be listed as a feature so trying to include it in your asking price will give you nothing more than a good visual for home buyers.
Although roof replacement will eventually occur, and repairs can be costly if you wait too long, experts say that your investment return is only around 55%-60% at the time of sale. On the other hand, if your roof is damaged or old it may turn prospective buyers away. So having a new roof will keep your home competitive in the market and attract any and all new buyers.