If you’ve been shopping around for a new home, you may have noticed that a lot of Nanaimo real estate listings boast about how many improvements have been done on the home. At first glance that might see like you’re getting the most for your money. But did you know that not all home improvements add value to a house – and that some actually can make a home worth less than before the improvement was made?
Here are five of the worst home improvements for a return on investment that homeowners make.
#1 Luxuriously elaborate bathrooms
When we say elaborate, we mean elaborate! While there’s nothing wrong with having a nice place to bathe, sometimes people go way overboard when doing a bathroom home improvement.
Upgrading a master or guest bath can be a good investment. But let’s be honest with each other. Waterfall showers, built-in fireplaces, and Italian marble tile aren’t what most homebuyers in Nanaimo are looking for.
#2 Swimming pool
Now, installing a swimming pool might be a good investment if your house is in a hot weather area. But your home is in Nanaimo, British Columbia where pools can be expensive to install and difficult to maintain.
To make matters worse, many experts say that an in-ground swimming pool increases the value of a home by less than 10%, and above-ground swimming pools can actually decrease the value of your home!
#3 Wall-to-wall carpeting
Nanaimo real estate listings that feature wall-to-wall carpeting might sound good, especially if the carpet is brand new. But the reason wall-to-wall carpet offers one of the worst returns on investment is that it can quickly show signs of wear and tear, especially if you have kids or pets.
Many buyers today prefer the convenience and beauty of natural hardwood flooring or designer tile. New carpeting worth thousands of dollars offer little value to them, since they plan on ripping it out right after closing anyway.
#4 Adding a sunroom
The cost of adding a sunroom can range anywhere from $45,000 to $70,000, depending on the size, features and material used. Unfortunately, sunroom additions are also one of the worst
improvements a homeowner in Nanaimo can make, with returns less than 50% of the money spent. So, if it costs $60,000 to add a sunroom the value of the home increases less than $30,000.
As a rule of thumb, adding or enclosing outdoor space should match the climate. In a four-season area like Nanaimo buyers see less value because the sunroom can’t be used year-around. Also, if the sunroom addition isn’t heated or cooled, it doesn’t add to the home’s square footage. If a home has 2,000 square feet of living space before a 200 square foot unheated sunroom was added, the home will still have 2,000 square feet after the addition.
#5 Upscale high-end landscaping
The curb appeal of a home is definitely improved by landscaping. Items like water features, window boxes, and greenery installed by a professional landscape architect can provide that ‘Wow! factor’ when people pull up to the house for the very first time.
But, as with our previous four worst home improvements, high-end landscaping doesn’t increase the market value of a home in Nanaimo. That’s because a lot of buyers will be turned off by the amount and cost of weekly yard work. Or, they won’t care for the style of the existing landscaping. With that in mind, it’s better to save money spent on high-end landscape updating and focus instead on a simple front yard that will look nice throughout the year with a minimum amount of work.