It is common sense to think that if you fix up your place, maybe add a little more counter space in the kitchen, or maybe add another bathroom, you’ll be able to sell your home for more than you paid for it.
And in most cases, you would be right. But in a recent study done by Remodeling Magazine, there are some renovations that can actually cost you money and hurt the value of your house. One of the biggest signs in today’s world that you’ve “made it” is the backyard pool. Maybe no other home improvement screams to the world that you’ve reached a level of financial security that you’re comfortable with, like a pool. Well, not everyone feels the same way.
Studies done in Florida and Arizona show that having a pool is still a big part of building equity in your property. But what about the rest of the country? How about places where it isn’t warm year-round? It turns out that a pool can work against you in parts of the country that have four seasons. The cost of upkeep and insurance are the main turnoffs. But there is one other turnoff, too.
The risks of raising young children in a home that has a pool have become a red flag for many new parents. The fear of a drowning accident is very real for many, and the presence of a pool can turn a first-time home buyer away from your property. Be careful when you try to get too trendy when you remodel.
An extremely important point to remember is that while you may think a special touch is cool and fashionable, the people coming to look at your house may not think so. And while most remodeling touches can be changed, you may have a hard time talking a prospective buyer into that. If you are not completely sure that the house you’re living in isn’t going to be the house you die in, try to make any remodeling touches neutral so that if the time comes to sell, you won’t regret what you did.
A final risk to avoid is the Jacuzzi tub. While you may have the time to sit in a hot tub for an hour a day, most people don’t, and most people won’t use it. You would be better off with an elaborate shower system than a big, fancy bathtub.