Selling Your Home? 5 Home Improvements That Do NOT Pay Off! {Infographic}

By
Real Estate Agent with RE/MAX Executive | Charlotte, NC

 

Home Improvements That DO NOT Pay Off

When Selling A Home

 

Selling your home? Here are 5 home improvements to avoid when planning to sell. They include:

  1. Installing a pool
  2. Converting a room to a home office
  3. Adding specialized spaces (wine room, exercise room, high end theatre room)
  4. Adding a sunroom
  5. Adding a garage


Home Improvements That DO Pay Off

When Selling A Home

 

According to the Remodeling's 2018 Cost vs. Value Report, in the Charlotte, North Carolina area, there are 5 home improvements that do pay off as compared with many others. They include;

  1. Upgrading a garage door  (returns 85.2% of the investment).
  2. Adding stone veneer (returns 94.8% of the investment).
  3. Replacing front/entry door (returns 88.3% of the invesment).
  4. Adding a wood deck (returns 85.1% of the investment). Interestingly, adding a composite deck drops the return on investment to 60.2%.
  5. Minor kitchen remodel (returns 80.1% of the investment).

 

It's noteworthy that three of the top 5 improvements providing the highest return on investment are those that also contribute to the curb appeal of a home. (As they say, you don't get a second chance to make a great first impression.)

 

That being said, it's not all always just about the money. If you plan to live in your home for a while before selling, investing in certain improvements that have a relatively low return on investment might still be a good decision... you get to enjoy your home while you live in it and you amortize some of the cost of the investment over the years of use and enjoyment. Just keep in mind why your are making the improvement.

 

Home Improvements To Avoid When Selling A Home

 

 

Check out our Spring 2018 Seller Guide of "Things to Consider When Selling A Home."

 

Contact Carolinas Realty Partners if we can answer any questions you might have about the Charlotte metro housing market or about what listing your home for sale might entail.

 

And if you're thinking about buying a Charlotte area home after you sell this Spring, check out our Spring 2018 Buyer Guide to "Things To Consider When Buying A Home."

 

 

Wondering What Your Charlotte Metro Area Home Might Be Worth In Today's Market?

 

Find out what your Charlotte area home is worth

 

free instant market value for your home from greathomesincharlotte.com 

 

Things To Consider Before Selling Your Home

 

 

If you are considering selling or purchasing a home in the Charlotte metro area, I'd love an opportunity to earn your business, exceed your expectations, and to prove to you that:

 "The Right Broker Makes All The Difference."

 

Posted by

 

SEARCH ALL CHARLOTTE METRO AREA HOMES HERE

 

Nina Hollander, Broker, Realtor / REMAX / Carolinas Realty Partners / Ph: 704.779.0813 / F: 704.341.3346 / E: Nina@NinaHollander.com / W: www.GreatHomesInCharlotte.com

Nina Hollander
Broker, Realtor, CRS, GRI, ABR, SRES, CDPE, SFR, SPS, CMRS
Carolinas Realty Partners with RE/MAX Executive Realty
Direct: 704-779-0813
Website: www.GreatHomesInCharlotte.com
Blog: http://activerain.com/blogs/ninahollander
Search for Charlotte Area Homes: www.HomesInCharlotteArea.com

2007 - 2016 Charlotte Magazine 5-Star Customer Satisfaction Award Winner

 

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Disclaimer:  Nothing in this blog article is to be construed as legal advice, tax advice, or financial advice.  For legal advice see an attorney.   For tax advice or financial advice see a tax attorney, certified public accountant, or other qualified professional.

 

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Topic:
Home Improvement
Location:
North Carolina
Groups:
Charlotte NC Real Estate
Advice for Sellers
Tags:
home improvements
home improvements that pay off
cost vs value for home improvements in the charlotte nc region
home improvements that dont pay off
cost vs value report for charlotte nc 2018
home improvements to avoid when selling

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Rainmaker
849,103
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

HI Nina, 

A seller should evaluate their home along with an experienced RE agent to see what can be done that will get potential buyers through the door at a cost effective price. 

May 18, 2018 01:21 PM #9
Rainmaker
3,481,654
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Hi Nina, definitely a garage pays off her, and a two garage is worth $10K.  You definitely want one this time of year, we are to see hail again this afternoon.

May 18, 2018 01:37 PM #10
Rainmaker
2,346,851
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Joan Cox ~ hi Joan... I expect that every region is a bit different based on climate... most of our houses were built without garages well into the 1980's. I get that a home with a 2-car garage will get $10K in value on an appraisal... but when one factors in the cost of permits, construction, etc. will the cost of putting in a garage be more than the $10K. I know it is here.

May 18, 2018 01:50 PM #11
Rainmaker
2,346,851
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sheri Sperry - MCNE® ~ hi Sheri... I always prefer when my clients call me first to discuss their plans... because often they don't have a clue what really adds value for a buyer and what doesn't and I've seen people spend money on things that don't pay back.

May 18, 2018 01:51 PM #12
Rainmaker
2,346,851
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Bob "RealMan" Timm ~ hi Bob... somehow, I think if you put that structure into your backyard, you might have to pay a buyer to buy your home!  I recently had a home I sold with a gorgeous koi pond and every serious prospective buyer didn't want it. The people who bought the house took it out. I can tell you my clients were ready to take it out themselves to get that objection out of the way.

May 18, 2018 01:53 PM #13
Rainmaker
2,346,851
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gita Bantwal ~ thanks, Gita... obviously what has roi depends on each locale and what's expected there.

May 18, 2018 01:54 PM #14
Rainmaker
1,396,555
Yolanda Cordova-Gilbert
Sitterle Homes - Richmond, TX
Sitterle Homes

Nina,

 Well said on the improvements but I like that you added you have to enjoy your home it is YOUR home so therefore use it like you live. I am so glad I have my pool would I do it again no but I still enjoy it 19 years later I have gotten my money's worth but as you said I did not put it in to recoup the cost I put it in to enjoy it!

May 18, 2018 03:39 PM #15
Ambassador
2,672,434
Paul S. Henderson, REALTOR®,CRS,
RE/MAX Professionals. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

 Sellers need to read out why is that it takes more than a for sale sign to sell a house. They must prepare Nina

May 18, 2018 07:37 PM #16
Rainmaker
2,407,270
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Nina.

We are in the market for a new place to call home. One of the must have is a 4th bedroom, that we will convert to a home office.  As it will be the last home we own

May 19, 2018 03:12 AM #17
Rainmaker
2,346,851
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

James Dray ~ hi James... that's why we have a 5 bedroom home... so that one of them can be my office... but the office is not so set up that it's not a bedroom the minute I move out. I see so many homes set up as an office and to remove all the built-ins becomes a major palaver.

May 19, 2018 04:15 AM #18
Rainmaker
2,346,851
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Paul S. Henderson, REALTOR®,CRS, ~ hi Paul... as I've been saying to clients for a long time... it takes much more than a sign, a listing in mls, and an ad in the paper to sell a home.

May 19, 2018 04:15 AM #19
Rainmaker
2,346,851
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Yolanda Cordova-Gilbert ~ I get it Yolanda... the problem I often encounter is when someone has spent $60K on a pool and then think they will get that entire investment back... we know that's not the case and  appraisers rarely give more than $10-15K in value for a highend pool.

May 19, 2018 04:17 AM #20
Rainmaker
4,197,490
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Nina.  Interesting information, though I think each home is unique and every potential improvement needs careful consideration.

May 19, 2018 04:27 AM #21
Rainmaker
2,346,851
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Gabe Sanders ~ hi Gabe... I think every homeowner has the right to do what they want with their homes...but they need to think about resale value at the end of the day and not expect a 100% return on their investment one day.

May 19, 2018 04:30 AM #22
Ambassador
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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Nina- very helpful information for homeowners. And, yes if you plan on staying for any length of time why not add what you know you will enjoy. When we moved to Florida, we only looked at homes with pools because we did not want to have to add one ourselves. 

May 19, 2018 09:46 AM #23
Rainmaker
2,346,851
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Kathy Streib ~ hi Kathy... there is no one size fits all in these situation and each home owner needs to make a discrete decision as to how improvements will or won't pay off, will or won't impace resale.

May 19, 2018 04:00 PM #24
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi Nina

This is really useful information, and not surprising to me. Pools are a real mixed bag and many people, despite our weather, do not want them for a host of reasons. While some improvements are more for the homeowner to simply enjoy without expecting a return, it certainly helps to know what will likely provide the best ROI in the area.

Some sellers are pretty surprised that their extensive improvements do not return dollar for dollar, or even close. Some changes can be negatives, too...like converting a garage to a bedroom or family room.

Jeff

May 19, 2018 04:36 PM #25
Rainer
60,861
Golden1 Agents
San Mateo, CA

Thank you for sharing this useful information. 

May 19, 2018 06:36 PM #26
Rainmaker
2,346,851
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Jeff Dowler, CRS ~ hi Jeff... same here... convert a garage to a living space and it causes resale issues. People want their garages. As for pools, since we are not a year-round pool climate, it often takes longer to sell a home with a pool than without one... especially when the pool eats up the entire back yard.

May 20, 2018 04:45 AM #27
Rainmaker
2,346,851
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Golden1 Agents ~ and thank you for stopping by. Wishing you a wonderful Sunday and a great week ahead.

May 20, 2018 04:46 AM #28
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