Not too long ago, my husband and I replaced the flooring in our home, including having wood floors installed. We figure that, while the move doesn’t add a great deal of value to the home, it will prevent us from needing to provide a flooring allowance when we sell the house in the next year or so.
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Our home improvement comes with a little bonus for us. However, not all home improvement efforts are as successful. In fact, reports Forbes, there are some home “upgrades” you think are improving your home’s value, when they really aren’t.
Which Home Improvements are Practically Worthless?
Before you get that home improvement loan or line of credit, stop and consider why you are making the upgrade, and whether or not it will really improve the value of your home. Here are six items the Forbes article points out are practically worthless when it comes to boosting your home’s resale value:
- Swimming Pool: It can actually be more of a hassle than it’s worth to have a pool at your home home. Some potential homebuyers will decide not to buy, just because they don’t want to deal with the maintenance costs and liability that come with a pool.
- Overbuilding: Creating an addition to your home can make it stand out in your neighborhood. If your home is “worth” $250,000 at the end of your efforts, says Forbes, and most homes in the neighborhood sell for $150,000, you might actually be at a disadvantage.
- Extensive Landscaping: While a nice yard can get people to stop, it doesn’t actually increase your home’s selling price. A discerning buyer understands how much costs to upkeep such landscaping — and may not want to mess with it.
- High-End Upgrades: Forbes points out that these upgrades can help a high-end home, but they aren’t as helpful in a mid-range home, where something like granite countertops may look out of place with the linoleum flooring.
- Wall-to-Wall Carpeting: After reading this, I was glad that we replaced some of our carpeting with wood. Apparently, many people are concerned about carpeting, and its potential health issues.
- Invisible Improvements: Plumbing and heating upgrades make the house livable, but they probably won’t add to your home’s selling price.