We were doing a little research to see what projects home owners might consider as remodel fails and here is what we found.

10 Home Improvement Projects That May Lose You Money
By Manta Team - August 30, 2019

All home improvement projects either cost you time, money, or both. Even so, sometimes spending those resources on a home is an investment. These upgrades improve the functionality, appearance, and resale value. When it comes to home improvement fails, real estate experts tend to focus on the investments that you may not recuperate when you sell your home. Here are 10 of the worst in no particular order.

1. The Swimming Pool
If you have children in your household, love to swim, or just enjoy having a place to relax, building a swimming pool may seem like a great idea. It probably is, but a home with a swimming pool can be polarizing. According to Money Wise, in Hawaii, the U.S. desert states, Florida, and along the Gulf Coast, a pool on the property could make a home more attractive. Everywhere else, buyers may shy away because of limited use and high maintenance costs. Families with young, disabled, or elderly family members may also worry about safety issues.

2. Extensive Landscaping
A similar problem arises when you do elaborate landscaping. This is problematic whether you pay for this service or do the work yourself. Prospective homebuyers may like to see it, but when they think of the cost of upkeep in either time or money, they may shy away. In desert climates, keeping plants alive is costly. In more tropical climates, such as Florida, the cost of preventing the backyard from turning into a jungle might be the issue. Water features, such as ponds and fountains, are especially high maintenance and may pose the same safety issues of a pool.

3. The High-End Deck
Everyone likes a beautiful yard and a deck makes it all the more useful. However, making this a high-end home improvement project is unlikely to attract buyers any more than building a regular deck would. Reader’s Digest warns that there is simply not a big demand for expansive decks right now that would make buyers want to spend extra money on owning one. Also, if the yard is small, the deck could make the outdoor space look cramped. If there are young, disabled, or elderly family members, an elaborate deck with various levels and steps may pose a safety issue.

4. Brand New Sun Room
Buyers are often willing to pay more for a larger home, which comes down to square footage. Flooding a home with plenty of natural light via a new sun room may also make it more attractive. However, until the home sells, a larger square footage may mean higher taxes. If the house sits on a small plot, the new addition takes up yard space, which some buyers prefer to have. Buyers with children and dogs are more likely to prioritize a larger yard. Another reason sun rooms do not provide a high ROI is the cost of building them in the first place. If this is a brand-new addition, that means foundation work, which can be very expensive.

5. Creating a Grand Entrance
When owners invest in building a grand entrance, buyers may appreciate the better curb appeal. While this may affect their first impression of the home, few are willing to pay more money just because of the entrance. Most buyers may not even recognize the use of high-end materials for the effect. You can save money by focusing on less-expensive upgrades. This could include retouching the paint on the door and frame. You could also clean the glass and add inexpensive light fixtures.

6. Trendy Décor Changes
Some homeowners spend a lot of resources on keeping their homes in tune with what is trendy at any particular time. The problem with fashion is that it changes from season to season, and at the very least, from year to year. A unique home improvement idea that looked amazing at one point may look absurd to another generation of homebuyers. When decorating homes for resale, it is better to choose simple and neutral designs that offer a beautiful but blank slate for buyers to work with. Designs that are trendy soon become dated. Designs that are too unique become polarizing.

7. Wallpaper and Murals
Modern is in and the traditional is quickly fading out, especially among millennial homebuyers. Wallpaper is a part of the more traditional type of décor and very few people like it. Adding new wallpaper is unlikely to attract buyers, no matter how beautiful you may think it is. The same goes for murals. A popular local artist may have painted the mural and your teen might love it. However, the room you see as a bedroom, a prospective buyer may see as an office. Thus, buyers are unlikely to pay extra money for it. In fact, they may already have plans to paint over it.

8. Repainting the House
Home Advisor estimates that repainting the exterior of a house costs an average of $4,000. A new paint job helps to improve a home’s curb appeal. If the house was an ugly color before or the paint was stripping, it may make sense to do a retouch. The bad news is that you are unlikely to reclaim that investment. Still, the good news is that if the house really needed a new paint job, you may sell the home for its actual worth. Whenever possible, power washing the exterior may be a better investment. That said, small touchups, such as the front door, window trims, or steps may not be a bad idea.

9. The Walk-In Closet
Buyers love the idea of a bedroom with a walk-in closet. The more clothes they have, the more attractive this is. This is great when a walk-in closet was already built into the original house plan. When it requires renovations that take space from adjoining rooms, it can cause other rooms to become smaller or awkwardly shaped. Sometimes, you may lose a room altogether. As much as buyers love walk-in closets, going from three to two bedrooms to make it happen is unlikely to compel them to pay more for the change.

10. Garage Conversions
Have you ever walked through a middle-class neighborhood with two-car garages? Not only do many people still park in the drive way, but many drivers even park on the side of the street. Homeowners often use their garage for storage, especially if there is no attic or basement. Converting the garage to a home gym, bachelor pad or even an ADU may at first seem like a great idea. However, if buyers don’t have anywhere to store their extra or seasonal belongings, the converted garage may be more a turnoff than a cool amenity.

The Bottom Line
Not all home improvement fails are black and white like the ones mentioned above. Sometimes even good project choices fail to produce a high ROI. This may result from a bad contractor or a DIY project gone wrong. As a general rule, leave anything that affects plumbing, electricity, and the structural integrity of your home up to professionals.
There are also instances when what is a waste of money for the general populace brings in big rewards for a seller because you find the right buyers. Even so, relying on luck is a poor financial strategy. Protect your home and your finances by choosing projects with a higher average return on investment.

We still think the most bang for your buck will always be remodeling your kitchen and bathrooms (or adding a bathroom) and replacing worn out flooring as our top 3 projects.

Our number one piece of advice is to do your research and consult the experts before starting any project.

This press release is brought to you by Manies Construction.

#homeimprovements #costvsvalue #roi #remodel