Costly Home-Improvement Mistakes to Avoid

Owning a home for the first time can be both an exciting and daunting experience. At first, you may feel the need to tailor every bit of your new home to your own comfort and vision. However, be wary of home renovation mistakes.

Keep in mind that some renovation projects are a waste of time, money and resources. While certain home renovations can add value to your home and increase the interest of future buyers, some renovations can actually decrease the value of your home.

Read on to discover a few of the most common and avoidable home-improvement mistakes that are made by homeowners.

Maintenance and Utility Systems

Utilities such as HVAC systems or water heaters will not add more value to your existing property. This is because these systems are expected to already be in good working condition and will only decrease the value of your home if they are not.

Generally, anything that falls under maintenance is expected to be maintained and in top condition. Since this is a requirement in the first place, it likely won’t add extra value to your property even if replaced or upgraded.

Backyard Swimming Pools

While we hate to add pools to the list since we know how much fun they can be, many buyers these days are not interested in the extra work and maintenance that comes with owning a pool.

In addition, families with small children may see a swimming pool as a potential danger. If you are interested in putting a pool in your backyard, just know that they can be a costly investment and you may not get the return you are looking for in the long run.

You’ll want to be especially cautious if you’re living in Toronto or any colder city where you can only use the pool for a season or two — if you’re lucky!

Luxurious Upgrades to Bedrooms, Kitchens or Bathrooms

To put it simply, any overly luxurious home renovation will be a gamble. While you can see a great return on investment if you are simply remodeling an older kitchen, bathroom or master bedroom, it won’t make sense to choose super expensive finishes or pricey upscale appliances. This is a sure-fire way to run up your own bill without adding real value to your property.

Most buyers won’t notice or even appreciate these differences so while it is recommendable to make certain upgrades to out-dated items and appliances; there is no need to opt for the best or biggest here.

While these renovations may not add value to your property in the long run, keep in mind that what you decide to do with your home is ultimately up to you. Even if the big swimming pool won’t increase your return when you decide to sell, perhaps the enjoyment it brings to your family is well worth it. At the end of the day, the choice is yours.

For more information on the costly home renovation mistakes to avoid, call Avonlea Renovations at (416) 907-4764 or contact us here.