Did you know that brand-new hardwood floors can give you double the return on your investment? The same goes for new appliances, an updated kitchen, modernized bathrooms and fresh paint jobs. But the same can’t be said for every home upgrade. It may sound like a good idea, but in the end it’s just money down the drain. Then there are home improvements that are in fact good ideas, but they don’t measure up to other upgrades. Let’s cover both.
- Specialty Driveways: You’ve seen them; driveways of beautifully laid stone or brick making elegant curves up to a house. They’re stunning -no argument there- but they aren’t the best use of your money. A specialty driveway is a big cost and likely won’t give you a return when you’re ready to sell.
- The Super Cool Garage: We know who the super cool garage appeals to… the men! But here’s the reality- buyers don’t want to pay extra for shelving from floor to ceiling, a shalaqued floor and a wall designated to displaying tools.
- A Finished Basement: Nine times out of ten finishing your musty old basement is a great home improvement to make before listing your house, but when your kitchen, bathrooms and front yard are also in need of TLC, the basement needs to be taken off the list of must dos.
- A Pool: Carefully consider adding a pool before you take the leap. Think about where you live. Are you in Florida or Colorado? Can a homeowner use it year-round or one month a year? Does your ideal buyer have the extra cash to lend to upkeep? Do you have more than enough yard space to allocate to a pool?
- Over The Top Landscape: Yes, it’s true that your yard needs to be in tip-top-shape before you list your property on the market because first impressions are very important. However, don’t put too much of your cash into a landscaping project. Trim the trees, plant some color and get rid of needless brush, but don’t feel like you need to plant large trees, add an overflowing flower garden and redesign the yard’s layout.
Disclaimer: You never know who your home’s new owner will be. There’s always the unexpected possibility that someone will see a stone driveway and think “I have to have that house!” The true selling points are complete unknowns, but to appeal to the broad market these are the tips to follow.