Swimming pools, solar panels, and invisible improvements are three upgrades you might not want to make.
Here are three improvements you can make to your home that you might enjoy but won’t give a full return on your investment when you sell:
1. Swimming pools. They’re fun to have but cost a lot to install, and you just won’t get a full return on your investment when selling. Appraisers might assign $10,000 to $15,000 to a pool (maybe less, depending on the neighborhood). The thing is, not everyone wants a swimming pool. They need a lot of maintenance and can carry many risks to certain families. If you really want a pool, you’re better off buying a home that has one.
2. Solar panels. Solar panels are great for your home while you’re living in it—they provide renewable energy and save you money on your electricity bill. Appraisers assign practically no value to them, though.
Not everyone wants a swimming pool.
3. Invisible improvements. Let’s say you spend a lot of money to upgrade your home’s plumbing or electrical system. These are nice upgrades to make, but they won’t encourage buyers to pay more for your home (unlike cosmetic upgrades). When it comes to the home’s structure, buyers will assume it’s fine and they aren’t inclined to pay more for the home because of it.
If you’d like to talk about which improvements might suit your home and give you a great return on your investment when selling, give me a call or shoot me an email. I’d love to speak with you.