ONLINE BANKING
Access ID:
Pay Online Button
Apply Now Button

Top two home improvement renovations to avoid

Posted on Monday, July 2, 2012 at 4:54:05 PM

Home improvement projects provide a property owner with the dream space they desire and may increase the value of a house. Owning a property is an investment, and as a result, it behooves an owner to weigh the benefits of a project against the potential negatives.

Here are two projects a property owner may not want to use home improvement financing for:

1. Swimming pool. While it may be fun to cool off from the summer heat with a dip in a pool, in-ground water featuresoften detract potential buyers in the future and might be a costly investment. An in-ground pool can cost anywhere from $25,000 to $50,000, and requires about $2,000 a year for maintenance, AOL Real Estate reports. Those figures don’t include the heating, insurance and repairmen costs. In addition, such an expenditure may only increase the value of a home by 6 to 11 percent, a relatively low return on investment.

2. Wall-to-wall carpeting. Fluffy threads underneath the toes can be pricy. According to Home Insight, high-quality carpet can range upwards of $15 to $25 a square yard. In addition, the wear and tear of daily life can damage the carpet and leave it looking worn and unappealing to potential homebuyers in the future.ADNFCR-16001052-ID-800810719-ADNFCR