THE 7 WORST HOME RENOVATIONS
Home owners are always looking for projects that will make their homes more comfortable and enjoyable. It is always helpful when these projects help the house sell for more when they are ready to sell. This is not always the case.
Every year REMODELING website (remodeling.hw.net) creates a report of the best and worst remodeling projects based on return on investment (ROI). Here is a list of 7 of the worst renovations for 2015 (http://www.remodeling.hw.net/cost-vs-value/2015/) with regard to how much money you are going to get back at resale.
7 WORST RENOVATIONS IN 2015 BY RETURN ON INVESTMENT
- Sunroom Addition — 48.5% ROI
A sunroom can be a nice place to enjoy a morning cup of coffee. It can also be a great place to get burnt when you sell your home.
Here is a graph that shows how this renovation has changed over the years
2. Home Office Remodel — 48.7% ROI
A home office can reduce stress allowing workers to work from home instead of drudging to the office. In 2015, it can increase stress if you expect a return on those hard earned home dollars.
3. Bathroom Addition — 57.8% ROI
Adding a bathroom can help calm a frustrated teen girl trying to get ready but can upset a grumpy home seller when buyers aren't willing to pony up.
4. Backup Power Generator — 59.9% ROI
A backup power generator can ensure a reader doesn’t miss any of my blog posts during an electrical shortage but this study almost ensures buyers will short home sellers when they move.
5. Master Suite Addition — 61.7% ROI
A master suite addition can help a homeowner sleep much better once complete. Enjoy the new master retreat but put the idea of making money off this ‘investment’ to bed.
6. Family Room Addition — 64.1% ROI
A family room will give teenagers and/or husbands a second living room to retreat to when wives are having tea or watching Oprah reruns. However, money does not travel to the family room renovation and return unscathed when the home sells.
7. Two Story Addition — 64.1% ROI
There is nothing better than adding a set of stairs to a home if the goal is to use them for exercise. However, the definition of an exercise of prudence is not investing in a second story. One story houses can inhabitated by most people. Two story houses can introduce barriers to certain buyers (elderly, disabled, lazy, etc..), reducing the size of the buyer pool, which is not good when selling a home.
You can no longer argue with your spouse the renovation on this list will help you sell your home for more.
If you want to do these renovations DO THEM because you want to ENJOY them.
Most importantly, do not judge a REALTOR poorly because they can’t get the money back spent on these renovations.
If you like this article please click RECOMMEND below! Full disclosure: Writer is a REALTOR and member of the Dayton Board of REALTORS in Dayton, Ohio.