Home Owners
Thinking about which renovations to tackle first before listing your home?
Here are a few renovations that you may want to re-think because they probably won’t make you any money in the long run:
Pool
While putting in a pool sounds like a great idea and you think it will do wonders on your family life, it is likely one of the worst investments to make on your home. Many families either don’t want to deal with the maintenance and upkeep of a pool, or are worried about the safety liabilities that come along with it. My suggestion? Make friends with your neighbours who have a pool, or find out where your local community pool is. Plus, we live in Canada – so is four months of the year really worth it?
Converting bedrooms into anything other than bedrooms
I completely understand your love for wine (I share the same love) and your passion to turn your third unused bedroom into a wine room, however fast forward a few years and those built in wine racks might make you cringe. Most families want all the room they can get – especially in Toronto, so keep that room as is!
Carpet
Most of my clients walk into a home with carpet and immediately cringe. While it may be cozy, the truth is that most homebuyers want wood floors because they are easier to clean and prevent any issues with allergies.
Over the Top Landscaping
While creating more curb appeal is never a bad thing when trying to get buyers through your doors, extensive landscaping typically doesn’t add value to your home. In fact, if the landscaping is so elaborate some buyers might look at it as an additional expense, as they will have to hire someone to take care of it.
The Stuff You Can’t See
Installing a new furnace, or fixing some structural work on your house is typically necessary and there’s no getting around it, don’t plan on seeing a return on your investment in this category.
Interested to know what renovations WILL add value to your home? Shoot me an email or give me a call and I’d be happy to share some ideas with you.