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.