These improvements won’t help home sale price
Selling a home can be full of surprises and some homeowners are amazed to find that buyers don’t always value the same improvements and upgrades that have been installed in the home. After spending time and money through the years creating a home to meet their needs, it can be a struggle for homeowners to come to terms with the fact that some features don’t always make as high of a yield as they assumed. Some features that were once desirable are on the outs and it’s wise to make note as you consider future improvements to your home.
Here are the top six worst home improvements that are least likely to return upon resale:
• Wall to Wall Carpet: Topping our list is a feature that used to be a great selling point, but in today’s market, carpet is perceived as being hard to clean and needing to be replaced often. If you have hardwood under your carpet, consider having it refinished instead of replacing carpet before selling.
• Cheap vinyl or laminate flooring: In keeping with our flooring theme, installing (or leaving existing) cheap flooring is an instant issue with nearly every buyer. Knowing in advance they will need to replace it, buyers will tack flooring onto their list of items to request money off of the asking price.
• Built in theatres/surround sound: Most people don’t feel the need for an entire room dedicated to movie theatre seating, as the average flat screen tv is enough of a movie viewing experience. The current trend for portable speakers with excellent sound quality has made the need for a surround sound nearly obsolete. • Pricey, Upgraded Kitchens: This point doesn’t apply to every home, but it does apply to homes in neighborhoods where the majority have a more modest kitchen setup. If a major kitchen renovation puts you out of the price range of your
neighborhood, don’t expect to be able to tack on a higher selling price, because in most cases, the location doesn’t warrant the price hike.
• Swimming Pool: While this point doesn’t apply in areas where nearly every home has a swimming pool (like Florida, for example) it should be noted that not every buyer desires a swimming pool, so you may be segregating
yourself from an entire field of buyers.
• Saunas, Indoor Hot Tubs, Giant Whirlpool Baths: Once considered desirable, these features are often considered to be expensive, troublesome items that most likely need to be removed.
If you happen to have one or more of these features mentioned, and you are trying to sell your home without success, don’t lose hope. Work with your realtor to get great feedback from showings and determine if remedying any of these issues
could help you gain the best buyer for your property and finances.
Maureen Hughes is the Lead Listing Specialist of The Wayne Megill Real Estate Team of Keller Williams Brandywine Valley in West Chester. For buyer or seller representation, or for more perspective on the local and national real estate market, please email maureenhughes@ kw.com and visit The Wayne Megill Team site at http://www. waynemegillteam.com.