Sunday, 20 August 2017

3 Common Home Upgrades with Low ROI

Written by Posted On Wednesday, 16 March 2016 15:32

 

1. Adding a pool

Pools can be hit-or-miss when it comes to added value. If you’re selling Orlando, FL, real estate, or you live in a warm climate where people are inclined to use a pool year-round, you’re more likely to get a favorable response from buyers. Often, however, the return is not enough to pay for the pool itself. Don’t forget that you’ll need to operate and maintain the pool, and this comes with a sizable extra cost. Ultimately, your likelihood of recouping the money you spent on maintenance, in addition to the installation costs, is pretty low.

Plus, adding a pool to your home could be a major turnoff to some buyers. Buyers with small children may be concerned about safety risks, those looking for a low-maintenance yard won’t want to deal with the hassle and upkeep of cleaning a pool, and buyers who are on a tight budget may not have the extra cash to deal with the added expense.

2. Highly custom design decisions

Your idea of a dream kitchen probably isn’t everyone’s idea of a dream kitchen. Unless you plan to stay in your house for many years to come, think twice about renovations that are too personalized. If you install a kitchen backsplash, you might recoup the cost, because the difference between “no backsplash” and “backsplash” is noticeable. But the specific type of tile might not matter to buyers — they could be just as happy with a simple ceramic tile as they would with an expensive Calacatta marble tile. Similarly, choosing a beveled countertop edge that’s complex and ornate, rather than a basic beveled edge, can turn off buyers whose tastes don’t align with yours.

In fact, these custom features may wind up costing you come listing time, as many buyers will factor in the money they’ll need to spend to change the house to suit their own tastes. If you’re going to upgrade your kitchen just for the sake of selling, stick with neutral, builder-grade design decisions.

3. Room conversions

Buyers will be looking to check certain boxes when they tour your home: For example, three bedrooms, two bathrooms, and a garage. Getting rid of these expected spaces (or altering them into something unusual) may harm your resale value. Every bedroom, for instance, is coveted space that can bump your listing up into the next bracket. Buyers are looking for a two-bedroom, three-bedroom, or four-or-more-bedroom home.

You might not need that extra room and dream of knocking down a wall to create a giant walk-in closet. Or perhaps you’d prefer to cover the walls with soundproof foam and convert it into a recording studio. Unfortunately, most buyers won’t share your interests. Instead, they prefer an extra bedroom for children or guests.

Want more details and advice? Head to: http://www.searchallnashvillehomes.com/

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Mary

Mary O’Neil is a native Nashvillan and familiar with this city and all its back roads too. She has represented sellers and buyers in middle Tennessee focusing but not limited to Green Hills, 12th South, Sylvan Park, East Nashville, Donelson, Mt. Juliet and Hermitage. You can visit her website at: http://www.searchallnashvillehomes.com/

While she has entered real estate as her second career she holds a Realtor designation with GNAR, one of 12 Realtors in Tennessee chosen for Leadership Nashville program in 2015, appointed committee chair for YPN for GNAR for 2016, twice in top 50 for Parks of Tennessee in 2015 and four times in the top sales at Wilson Group. Mary was offered a team position in 2016 and has moved to Benchmark Realty to be a part of Team Kip and also able to focus one her individual clients. She finds herself still pleased to do transactions with agents from her former offices and still feels at home with her former brokers.

Charities include:

  • Habitat for Humanity
  • Make a Wish Foundation

Prior employments include:

  • Designer for Rogan Allen Builders
  • Designer for Adam Epstein Builders

In her former career Mary was self employed for 25 years as owner of Hot Potatoes Rubbers Stamps With products featured on HGTV, covers of Southern Living and Better Homes and Garden magazines
15 years on HGTV Carol Duvall Show as most invited guest. These skills give her a keen sense of design and a real love of interiors and with her handyman skills from being an artist she has a great understanding of how homes work.

Mary lives on the Cumberland River with her husband Brian and unruly dogs Buster and Sister and a cat. Above all else Mary prides herself on her service skills and referrals from friends family and clients and would love a chance to help you buy or sell your home.

www.searchallnashvillehomes.com/

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