While the majority of Mission Viejo home owners upgrade or renovate their homes due to a desire for better amenities most have a goal in mind of increasing their homes value. This is not always the case in some circumstances!
Prior to making plans and receiving estimates for home renovations that you think will ultimately benefit you in the long run, one should first consider when they will be moving. If it will be in the near future it’s wise to focus on the overall cost of the project rather than the value. Planning on being in the home for the long haul and going all out with only the best of the best? Then focusing on the fulfillment rather than the overall cost should be most important.
Studies show that the typical American moves 10 plus times during the span of their lives. What this means is that return on our investment is a major focal point. Check out these home improvement NO NO’s that you should steer clear of as they typically do not bring that return on investment that you should be seeking.
Usually garage additions are done out of necessity for more usable space. But studies show that they only return just over 50% of the investment. Garage additions are not inexpensive by any means! Depending on the condition of the garage and when the home was built you could be looking at a major project.
Gourmet Kitchen Extremes:
Once you’ve decided that you are going to stay in your home a while and make it the castle you’ve always dreamed of going overboard with upgrades can negatively impact your homes overall value. Keep in mind that too much customizing could turn would be buyers off. Keep it clean and classy is a good rule of thumb for the kitchen. Everyone might not appreciate that Wolf 36″ Built in L Series oven and may opt for something more traditional.
Jacuzzi tubs/Whirlpool Baths:
I can’t tell you how many times I’ve shown homes that have upgraded bathrooms with a jacuzzi or whirlpool bathtub that either gets overlooked or targeted for removal. I don’t ever remember a potential buyer seeing one of these and saying I’d pay extra for the home because of the jacuzzi tub in the master bath. These often end up being costly and not very energy efficient.
Over doing the landscaping in the front or backyard will not increase the bottom line when it comes to selling your home. There’s a difference between an appealing yard and a forest that scares most buyers from taking a peek especially after dark. The numbers just don’t add up if you are looking to sell in the near future. Do the basics but don’t over do it.