Home renovations can be a smart way to improve their appearance and functions while also increasing their value. As a homeowner, you might have read a little about which home improvement projects are the smartest investment. There are several really great home improvement projects that can produce a good return on investment, such as adding a wooden deck or changing the attic into a bedroom to add a living room.
But what house renovation project should you avoid?
Look, not every renovation is a good value. There are several home renovation projects that are a waste of giant money, so it’s important for you to know this before you invest in it.
What is the worst home renovation project for your money? They include:
• Renovate your home office – get this: homeowners who overhaul the home office just change less than half the cost of the project when they sell a house. What happen? After all, isn’t it more people working from home than before? Yes, they, but that doesn’t mean they want to take a valuable square recording at home with space set aside just to work. When you throw money to build a real head office, you take a valuable square recording and prevent it from being used for other purposes.
• Adding the Sun Space – Adding additional sunbathing space to your home will only give you a refund of 49 percent of your investment. It’s not a good value if you are interested in making a smart investment in your home. The reason for renovation produces a low return on investment is because they represent the use of inefficient interior space. People don’t need a sunbathing room; They need more living space. And when you consider that the average cost of additional sunbathing is $ 73,000, it is quite clear that there are more smart things, you can invest your money.
• Backup Power Generator – Reserve power generator looks like intelligent investment, right? Maybe it’s from a practical point of view, but from a financial standpoint, not. With the average cost of a backup generator at almost $ 15,000 for homeowners, you might be surprised to know that you will only recover around $ 7,000 from it when you sell your home. Less than 50 percent of investment returns.
• Adding the garage – additional upper class garage will slap you with an average of more than $ 86,000. That’s a lot of money! And guess how many of it will recover when you sell your house? Only around $ 45,000. It’s only more than 50 percent of the level of recovery. The problem is the labor-intensive garage to build, and they are non-flexible spaces with very limited use.
Now, it should be noted that only because this home renovation project may not be a smart investment if you are interested in selling your home, they can still be useful if you plan to stay in your home for a long time and you just want to increase their function for your own life , Remember, you want to feel comfortable in your home, so if you will be there for a while, do what you want with your room.