November 21, 2020
Worst Home Improvements for ROI - Which Ones to Avoid if You're Reselling Your Home
When you are dreaming up a new home improvement for your home, 9 times out of 10 it will be something bugger or better than what you have already got. But if you are planning on reselling your home, there are some home improvements that can be a total wash in terms of resell value. Since it’s our job as a local roofing and home remodeling contractor to keep you informed on the best decisions that you can make for your home, we decided to share a post on the worst home improvements for ROI with you, so that you can make an educated decision when investing your money on home renovations that you want to pay you back when you resell your home.
Keep reading, and we will outline 6 of the worst home improvements for return on investment for you, and give you some thrifty tips on how to raise your home’s value without breaking the bank!
Upscale Bathroom Addition - 54.7% ROI
Mid-Range Bathroom Addition - 54% ROI
Even mid-range bathroom additions won’t boost your ROI as much as you would expect when it comes time to resell your home. According to these statistics on remodeling.hw.net for mid-range bathroom additions, in 2020 you can expect your mid range bathroom addition to pay you back around 54% ROI at resell.
This is why DIY projects or hiring the right team of professionals who know how to deliver your bathroom addition on your terms and finish on time and on budget is so important. If you know what you are doing, you can maximize your home investments, and make more bang for your buck when you get ready to resell your home!
Major Upscale Kitchen Remodel - 53.9% ROI
Major Upscale Kitchen Remodel comes in third on the worst home investments for ROI list, and that is because so many people overdo it. With the evolution of the kitchen over the decades kitchens have become more and more important to families, because they are a common place where the entire family meets up and has daily activities. People like to show off their kitchens by having upscale kitchen features installed that their neighbors will be jealous of.
But according to the statistics, major upscale kitchen remodels will only pay you back about a 53.9% ROI when you to put your home back on the market, so if you are planning to resell your home in the near future, you may want to cut back some on the luxury kitchen design!
Fiberglass Grand Entrance Remodel - 55.2% ROI
A Fiberglass grand entrance may seem like a wise investment! They look magnificent, they add aesthetic value to the inside and outside of your home, enhance curb appeal and more. But the truth is, they do not have a high enough ROI to waste your time with…
Statistically, a fiberglass grand entrance remodel will only pay back an ROI of about 55.2% of what you put into it. According to this article on fortunebuilders.com, a steel door entry way can pay back as much as 101.8% of your investment at resale!
Again, it pays to have a professional on your side to advise you on the wisest move when it comes to home investments. Our advice is always free at Sellers Roofing Company! Just click any of thee buttons on our website to schedule a free estimate, and someone from our team will call you back!
Upscale Master Suite Addition - 51.6% ROI
An upscale master suite addition is one addition that just about every homeowner dreams of… Wood floors, a beautiful custom upholstered head & foot board… Maybe something with a touch of Victorian or even a custom mini bar and bug screen TV,.. Well, just like anything else, living in the lap of luxury has it’s disadvantages too, so be prepared to take a good chuck out of your resale prices’s ROI for this one!
An upscale master suite addition will only bring back about 51.6% of the money you put into it when you resell your home, so if you’re planning on reselling in the next 5-10 years, you may want to save that mini var for your new house!
Sunroom Addition - 50.0% ROI
You would think that any time you have another rood added onto your house that it would increase the value of your home, because in the end, you’re able to sell a bigger house to people when you list it. But that is not the case.
A sunroom addition, even though it adds extra square footage and beauty to your home, will only pay you back an average of 50.0% ROI at resell!
Worst Home Improvements for ROI - Final Thoughts
The bottom line is, that some of the most attractive investments for your home can be some of the worst home improvements for ROI when it comes time to resell your home, so if you are planning on putting your home back on the market in a few years, you may want to check out our article on the home improvements with the best ROI, so that you can get more return on your investment.
If you live anywhere in the greater Minneapolis area, and you need the opinion of a professional remodeling contractor, give us a call during regular business hours at (651)703-2336 or click the blue button below to have one of our team members call you back and set up a good time for your to meet with one of our remodeling experts to discuss your project!