Your home is your personal space and an area that you may find yourself wanting to improve. With hundreds of different home improvement projects to choose from it can be hard to narrow down which project is best for you and your home. It can be equally as difficult to decide between a home project you personally like and one that will improve your home’s value. So before you pick up a sledgehammer or start calling contractors check out these five home improvements that do not add value to your home.
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Garage Conversion
Expanding your home into your garage probably feels like a necessity if you are low on space and struggling to find an area for your daily workout or zoom meeting. But that doesn’t mean a full blown overhaul of your garage is an improvement that will add value to your home. A garage conversion will require upgraded insulation, window additions, flooring installation, and heating/cooling depending upon the climate of your home’s location All of these improvements can come with a fairly high price tag, sometimes topping out at around $10,000. If you are in desperate need of additional space and you need to convert your garage, remember that home buyers are always looking for a blank canvas in their new home so the last thing they may want to see is a garage space with little or no room for vehicles.
Wine Cellar Addition
So you love a glass of wine with dinner and you are never short on wine when friends come to visit. But is it worth it for you to turn your love of wine into a home remodeling project? Probably not. Adding a wine cellar costs around $40,000 on average but can range as high as $100,000 if you are converting an entire room. Why is it so expensive? Wine cellars require a steady temperature between 55 and 60 degrees Fahrenheit and a humidity level of between 60 and 75 percent. That means your wine cellar remodel will require a humidifier, custom thermostat, and insulation in order to properly store your wine. In addition custom wine racks need to be installed as do doors and lighting. If you are going to make your wine cellar a full blown tasting area the cost will only go up. Potential home buyers who do not share your love of wine will only see your custom wine cellar as an unnecessary feature for which they will most likely not be willing to pay. If you are set on adding a wine cellar to your home keep in mind that it will most likely be more for your benefit rather than a home improvement that adds value.
Oversized Addition
Much like the garage conversion, a home addition can seem like a good idea when you are struggling for breathing room in a congested home. But, it may not end up adding much value to your selling price if the addition is too large. For instance, if the average square foot house in your neighborhood is 2,400 square feet and your addition raises your home size to closer to 4,000 square feet then buyers searching for homes in that area may find your house to be too large for their liking. In addition to creating too big of a home, your addition may also eat up valuable outdoor space which could deter buyers. Research homes in your area before committing to a large home addition.
Swimming Pools
The addition of an inground swimming pool to your backyard may feel like a good idea during hot humid summer days, but there is still debate about how much value a swimming pool will actually add to your home. After factoring in the cost of putting in the swimming pool and upkeep, swimming pools rarely add more than a 50% return on investment. In addition, swimming pools are often frowned upon potential buyers who have small children as they pose a safety risk. Just as with any other home improvement project, adding a swimming pool might be something that adds value to your time at home with family and friends. If that is the case, remember to factor in the cost of pool upkeep due seasonal use as well as adding in safety features such as gates and fencing around the pool.
Over Personalized Wallpaper
While your home should feel like your personal space, too much personalization can backfire when you go to sell. One home improvement project that tends to become too personalized is wallpaper installation. Wallpaper has been making a comeback as a featured home improvement project for the past few years but this trend has its drawbacks. There are thousands of different wallpaper patterns to choose from and it is easy to get caught up in unique designs and colors. But that uniqueness may be a deterrent for future buyers. 61% of real estate agents say that over-personalizing material selections are a remodeling mistake that homeowners will eventually regret. If you have your heart set on wallpaper for your walls try to stick with a small section such as an accent wall in one room. And don’t go too extreme with colors or design if you have plans to sell your home in the near future. In the end, your real estate agent may suggest removing your wallpaper before selling.
In the end only you can decide if you want to stick with a home improvement project that will add value to your house or if you are more interested in tailoring your home to your personal needs. If you are planning on staying in your home for the long term then you should base your remodeling projects around whatever makes you happy. But if you are considering selling in the near future stick with projects that will add value and increase marketability.
