Your home is where you relax after a long day at work and a place to spend time with your family and friends. Owning a home is also a considerable investment. Many homeowners plan projects to boost the property’s resale value. It’s good to know that some updates are more valuable than others. Here are a few home improvement projects with low ROI when choosing upgrades.
Projects for Your Home with a Low ROI
Some home improvement projects don’t offer a good return on investment because they don’t appeal to most potential buyers. If you’re renovating and want to boost property value, here are a few projects to reconsider if they’re on your list.
Adding a Swimming Pool
Your family may enjoy spending hours by the pool, but this expensive project is unlikely to provide a return on your investment. Pools require upkeep and maintenance, and many potential buyers don’t want that responsibility. Buyers might prefer a large, open backyard for the kids and pets to enjoy or a space to plant a garden.
Installing Wall-to-Wall Carpeting
Carpet throughout the home may have been trendy decades ago, but today, it is not an appealing feature in a property. Carpet is problematic for people with allergies, and it isn’t easy to clean. In some cases, wall-to-wall carpeting may lower the value of your property. As a general rule, removing the carpeting and installing hard flooring before listing your home for sale is best.
Projects with a Low ROI: High-End Upgrades
While some upgrades may boost your sale price, others will do little to increase the property value. Many potential buyers will personalize the house with their own updates, and their tastes may not be the same as yours. Rather than investing in natural stone flooring and marble countertops, choose upgrades that appeal to most homebuyers. Replacing fixtures, applying a fresh coat of paint, and installing new hardware throughout the home are easy ways to update your house without breaking the bank.
A Hobby Room
If you enjoy painting, you might want a room to focus on your art. Building a craft space with shelving to store canvases, drawers for brushes, and a large work table may be the home project of your dreams. However, don’t expect a buyer to be as excited about the space. No matter your interests, whether it’s weaving, beer-brewing, or model trains, a room designed around and for a specific hobby won’t appeal to the majority of homebuyers.
Although these projects don’t have the greatest ROI, it doesn’t mean you can’t still move forward with them. It is your home, and you are free to add features you and your family will enjoy. Just know that you may not recover the investment if you decide to sell your house.