Top Four Home Renovations
That Don't Pay Off
home equity articles and tips
When remodeling your home, your primary goal is to create a useful, appealing space which will improve your quality of life. However, you also want to be certain that any improvements will hold their value upon resale. Read on to see the four home renovations that often don't make financial sense:
With an installation price tag beginning at $10,000, in ground pools are an expensive investment - and it may actually make your house more difficult to sell (particularly to parents of small children). You'll also likely find yourself spending $1,000 or more each summer on pool chemicals, water, and the electricity needed to keep the pumps and heater running.
You might consider an above-ground pool as an alternative - while it still carries some installation and maintenance costs, it can be easily dismantled upon the sale of your home, or when you decide a pool no longer fits your lifestyle.
While a state-of-the-art entertainment system may make your movie nights epic, it's unlikely you'll be able to recoup these costs upon sale. A buyer may wish to reconfigure the furniture arrangement so that these speakers are no longer appropriately located - and with the lightning pace of new technology, built-in speakers may quickly become functionally obsolete.
Portable wireless speakers can provide the best of both worlds - enjoy your entertainment at any volume, at home or on the go!
Although a well-manicured garden or lawn provides curb appeal, adding koi ponds or extensive water features presents the same liability detailed above in the "pool" section - the continued cost of maintenance and electricity, as well as buyers' reluctance. Peterborough custom home builders recommend that you keep your landscaping classy and simple.
Any home improvement - even those which typically add value - performed by an inexperienced contractor or using substandard materials will result in disappointment. When choosing a company to perform your home improvements, be wary of contractors which offer no guarantee for the work they perform.
Find a company doing home renovations in Peterborough that offers at least a one-year warranty - this will give you an opportunity to "live in" the improvements and see what might need to be altered. Be sure not to make these mistakes when you go about upgrading your style and life.
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