These 5 Home Improvement Ideas Will Not Add Value to Your Property!
For many homeowners, selling a property means preparing the house, adding fetching selling points and making it look attractive to potential buyers, especially in the UK. While some paintwork or repairs here and there might be necessary, carrying out major improvements on the property in an attempt to shoot up its value might be a waste of time and money. The following are some home improvement ideas which might look good initially but will only end up causing you to shoot yourself in the foot, financially speaking.
A swimming pool is no small investment. If a swimming pool is not already a part of a property, installing one just for property resale purposes is not the best idea. It will only cost you money in the long run which most likely will not be recovered after the property is sold.
Full Carpet Flooring
Wall-to-wall carpeting is gradually being phased out of interior decoration options for home buyers. Instead of going for full carpet flooring to attract buyers, choose hardwood floors which add more value to your property and are more likely to sell faster. A less pricey alternative to new hardwood floors is laminate floor which looks great and is very durable.
Contrary to general belief, high-end upgrades have very little effect on the value of a property. They might increase the attraction for potential buyers, but chances that a higher offer will be made are not improved by shiny new countertops or floor tiles. Using these kind of changes are unlikely to your property meaning that you’d be better off using online tools when calculating a new mortgage.
Luxurious Landscape Gardening
As tempting as the idea of luxurious lawns and elegant landscaping may sound, it is not advisable when you are considering putting a property up for sale. Besides, not all potential home buyers are looking for a property that carries with it the responsibility of extensive upkeep costs and efforts as part of the package. A more option could be to plant simple beautiful plants that require little care, which will give you a chance to enjoy the beauty of nature and at the same time will easily make way for a redesign by a buyer with differing tastes.
Other Unnecessary and Obscure Improvements
Buyers rarely feel the need to pay more for features that naturally should be in good working condition anyway. So if you splurge out on new paint, new plumbing and the like, it won’t amount to higher resale value on your property. By all means, maintenance on your property is important but these should be done in moderation and in accordance to good budgeting rules.
Owning a house is seen by many as an investment in their retirement. A typical routine concerns buying a house, paying off the value over a 25-30 year period, and then selling the home at a profit upon retirement. If you’re not able to add value to your home, then you might find you’re in real trouble when retirement does come round.