We naturally tend to think that every single home improvement will do is going to add value. Unfortunately, this is not always the case. For instance, an experienced auto accident attorney Springfield once decided to add a swimming pool but when the valuation was done, nothing extra was added to overall home value. This type of thing happens much more often than what we think. That is what we will talk about in the following paragraphs.
Adding A Swimming Pool
The swimming pool is wonderful for many to enjoy but when you have it close to your own home, things can be different. Potential home viewers might end up seeing the swimming pool as being dangerous. They will think about maintenance costs or even potential lawsuits. The families that have younger children are much more likely to turn down the really perfect home because there is a swimming pool present. A regular in-ground pool can easily cost up to $100,000, plus yearly maintenance costs. When you sell the home you might not get back what you invested.
Neighborhood Overbuilding
Because of a wish to increase home value, some owners make various improvements that make the property unintentionally fall outside neighborhood norm. The property can end up being a lot more appealing if the remodel was expensive, large, but you might be surprised in many cases to see that resale value was not significantly modified.
Generally speaking, the home buyer is not interested in paying something like $300,000 for homes that sit in neighborhoods that have average prices of around $150,000. Houses seem overpriced in this case, even if the value is really good.
Really Extensive Landscaping
Most home buyers do appreciate landscaping that is mature and well-maintained. However, you should not expect the value to be increased due to the presence of great landscaping. Beautiful yards can easily encourage some buyers to look at the home but not much is actually added to resale price.
As an example, when a buyer does not have interest in putting in the necessary effort for garden maintenance, he may decide to just not make the purchase. Elaborate landscaping may become a burden for them so they do not want it.
Higher-End Upgrades
In so many situations we find homeowners looking forward to increase property value by making some really high-end upgrades. The problem is that the value of the entire home is not going to be really high if you have imported tiles in the entryway and great kitchen appliances when the bathrooms still have a vinyl floor and bedrooms feature carpeting from the sixties.
Home upgrades need to remain consistent in order to increase value. Basically, in the event that you make some extensive remodeling, it should cover the entire property.
Final Thoughts
It is quite difficult to think about the fact that even after spending thousands on some home improvements, home value does not increase drastically. However, this is seen much more often than what you might initially think. Always conduct a research and see what you can do in order to actually increase property value in the long run.
Article Submitted By Community Writer
