Ready to sell? Wanna spruce the place up a little before you do? Before you embark on that home improvement project this summer with a view to recouping the investment and then some when you list in the fall, here are the top 5 projects that will net you zero if any return.
A NEW ROOF
Approach this one like a Navy Seal: get in, get the job done and get out. DO make sure your roof is in good nick. But don’t go overboard. It’s a necessity not an accessory. Expect to redeem between 55% and 59% of your cost.
THE SWIMMING POOL
This one hankers back to that old saying “One man’s poison is another man’s cure”. For some a luxe treat, for others a major headache. Pools are expensive to install, to keep up and require a whole lotta upkeep. If you are marketing to young families, they can take your property off the “potential” list.
A HOME OFFICE
Spending a chunk of change to create a zen home office won’t pay off come sale time. Expect a 50% return tops. Let your buyer worry about their own DWS (designated work space).
SWISH HOME THEATRE
See Swimming Pool above. Most buyers see these as wastes of cash (energy costs) and space.
THAT EXTRA BATHROOM
While most will wish for extra bathrooms, few savvy purchasers will want to repay you the 20-40k you will spend creating one. You may end up FLUSHing 50% of your investment away with this project.