Remodeling your home to increase the value is definitely worth the time and effort. However, you want to make sure you get the biggest bang for your buck. Renovations are time-consuming and sometimes cost more than they’re worth. If you’re looking into home upgrades, make sure you know what’s worth it, and what will waste your money and time.
1. Replacing Counter Tops
In every home upgrade you do, you need to ask yourself if it’s something you can do yourself or if you should hire a professional team for the project. Replacing countertops sounds like an easy way to update your kitchen, but it’s not.
New homebuyers look at countertops. Even if you upgrade to a nicer countertop, potential home buyers will complain if it’s not the type they want in their future home. Rather than replacing, refinish counter tops to save money instead. You’ll still get the kitchen update you want, only with less effort and more money left in your wallet.
2. Adding An Addition
It can cost thousands of dollars just to add some extra square footage to your home. Plus, an addition to your home is a long process. In some areas, you have to work with contractors and get building permits. You have to ask yourself if the price of construction and materials for your addition will add enough value to your house that you make money off it.
Rather than hiring a contractor, you could opt to do it yourself. If you do, there might be issues that arise that you won’t be prepared for. Adding an addition onto your home could cost more money than your budget can afford.
3. New Roof
If it’s not broke, don’t fix it. That’s a homeowner’s mantra when it comes to upgrading their house. There are a lot of options when putting on a new roof, like what kind of material to use, what contractors to hire and how much you want to spend per square foot.
The cost of adding a new roof gets higher each year. If your roof leaks, hire someone to fix the leak rather than replacing the entire roof. While it can increase the value of your home, it’s an investment risk you shouldn’t take unless you have to.
4. Putting In A Pool
Pools only mean one thing: Problems. Pools are an expensive feature of any home. They make taxes higher, they are costly to keep up with and also break the bank if any issues arise. They’re fun in the summer when you want to cool off, but they can cause consternation when you find problems that need to be fixed.
The problems that often happen with in-ground pools cost a lot of money. You won’t make any money from adding a pool — instead, you’ll lose money thanks to the cost of upkeep.
5. Bathroom Remodel
Renovating a bathroom can increase the value of your home and improve its aesthetics. If you want to remodel your bathroom, go over what you need in your bathroom versus what you want in your bathroom.
Instead of remodeling with new tile, a new sink or floor, keep the bathroom upgrades simple and inexpensive. Give the bathroom a fresh coat of paint in a neutral color and add a new shower curtain. If you want to put in a new faucet or shower head, it will update the bathroom without costing a lot of money.
6. New Carpets
Whatever you do, don’t spend money on new carpets. When it comes to flooring, carpets are growing less and less popular with homeowners. Carpets are hard to keep clean and simply not as durable as hardwood. If you have to choose between carpet or hardwood, the answer is always the latter.
Hardwood is easy to keep clean and allows the option of area rugs. Rugs are easily replaceable and provide the carpet you want without it being locked into your floors. If you’re renovating the flooring in your home, don’t waste money on new carpets.
7. Crown Molding
Unless you plan to spend a lot of money for minor details in your home, don’t add crown molding to your ceilings. Crown molding is an unnecessary upgrade that can go unnoticed. Crown molding starts at a general $1,000 and can go up depending on how much you plan to install.
If you want to update your ceilings, consider the cheaper options of a fresh coat of paint and installing higher curtains to make your ceiling look higher.
Remodeling your home is an investment. You need to save money and spend money in order to make money on your home. If you’re looking to increase the value of your home without wasting your time and money, keep things simple. Happy renovating!