What Features Do Not Add Value

What Features Do Not Add Value

“As temperatures soar, these metro Atlanta homes with pools become that much more appealing to buyers and daydreamers. The nice thing is, properties with pools are for sale at multiple price points,” writes Rose Kennedy at AJC.com. I got to wondering what features do not add value …and what do.

Jean Folger at Investopedia shares what features do not add value.

1. Swimming Pool. Many potential homebuyers view swimming pools as dangerous, expensive to maintain and a lawsuit waiting to happen. Families with young children in particular may turn down an otherwise perfect house because of the pool (and the fear of a child going in the pool unsupervised).
2. Overbuilding for the neighborhood. Having the biggest house in a neighborhood of small houses or having a $250,000 house in a $150,000 setting. “If your area is in the midst of a gentrifying burst of teardowns and rebuilds, then an extensive remodel might be worth it.”
3. Extensive landscaping. “…many buyers view elaborate landscaping as a burden (even though it might be attractive) and, as a result, are not likely to consider it when placing value on the home.”
4. Inconsistent High-End Upgrades. Upgrades should be consistent to maintain a similar style and quality throughout the home.
5. Wall-to-wall carpeting. “…potential homebuyers today may cringe at the idea of having wall-to-wall carpeting. There is growing concern over the healthfulness of carpeting due to the chemicals used in processing and its potential for trapping allergens (a serious concern for families with children).
6. Invisible improvements. A new plumbing system or HVAC unit (heating, venting and air conditioning) might be necessary, but don’t expect it to recover these costs when it comes time to sell. It’s considered part of maintenance.

Heather Levin at Money Crashers writes that these features do add value:

1. Remodeling the Kitchen. “Most people consider the kitchen to be the heart of the home, and because of this, updates in this room pay off.”
2. Bathroom addition. “If your home only has one bathroom, you can recoup a large chunk of your investment by adding another one. HGTV estimates that you can recoup 80%-130% of whatever you spend adding a bathroom.”
3. Reinventing a room. “Finish a basement, or convert the attic to a bedroom. Many homeowners can also add small apartments in, or over, their garages – which they can thenrent out as a room.”
4. Adding energy-efficient windows.“Energy Star claims that adding Energy Star-rated windows can save you up to $500 a year in heating and cooling costs by making your home more energy efficient. According to HGTV, you can expect to recoup 60%-90% of your costs.”
5. Deck addition. Adding a deck increases the value of your home. Outdoor living spaces have become more desirable, especially since more people stay home for vacation.

We hope these tips help deciding on upgrades before selling and what features do not add value.

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