West Michigan Home Improvements that Could be a Mistake

By
Services for Real Estate Pros with Westbrook Realty

West Michigan Home Improvements that Could be a Mistake

Don’t over improve your home or price it out of the neighborhood.

If all the homes in your neighborhood are priced in a category, don’t

try take your home to the next level with home improvements that

are unwise investments.  We see homeowners do this all the time.

They figure they will get the money back because buyers will

pay more for a home with valuable additions.  Not necessarily so.

P1030182 thumb West Michigan Home Improvements that Could be a Mistake

A perfect example is pools, indoor and outdoor.  Pools are great for

summer recreation here in Michigan, for people that want them.

Many do not.  In fact, most buyers will discount your home if it has

a pool.  They will estimate the cost of removal or filling it in as an

added expense they weren’t planning on.

 

Another example of over improvement is adding a basement bedroom.

This can be a great way to add another bedroom.  But don’t plan on buyers

paying more for your home, they won’t.

 

Also included in this list is finishing a basement.  A finished basement

has added appeal for many homeowners, but they won’t repay your

construction costs.  This is another item that you should plan on

enjoying while you live in the home, not as a return on investment.

 

Expensive improvements that don’t fit the home could be on the top

of the Don’t Do It List!  If you live in a $100,000 home in a $100,000

neighborhood of homes, don’t put in a $30,000 kitchen.  Buyers will

expect a kitchen, but will not repay you for granite countertops,

top-of-the-line cabinetry and a Viking range.  Use common sense and

remember, you will probably want to sell your home someday.

 

Related articles:

NAR Cost VS Value 2010 Report

Do I Need a Permit for my Home Improvement Project?

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Posted by

Westbrook Realty 

Grand Rapids MI Real Estate

Copyright 2011 All rights reserved

Comments (4)

Lola Audu
Lola Audu~Audu Real Estate~Grand Rapids, MI Real Estate - Grand Rapids, MI
Audu Real Estate~Grand Rapids, MI ~Welcome Home!

Great information!  Thanks for sharing these insights with you friends in the Grand Rapids Real Estate group!

Jun 29, 2011 06:01 AM
Robert L. Brown
www.mrbrownsellsgr.com - Grand Rapids, MI
Grand Rapids Real Estate Bellabay Realty, West Mic

Some people think they will always get their ROI. They need to be educated before they partake in these expensive remodels.

Jul 23, 2011 12:17 PM
Kevin Polakovich
Treadstone Mortgage - Grand Rapids, MI

Completely agree- although i like all of those things in homes that i would plan to live in for 30years, they are not a guaranteed roi.  This week i have seen at least 2 buyers pass because of a pool that they viewed as an added expense.

Oct 27, 2011 01:43 AM
Bonnie & Terry Westbrook
Westbrook Realty - Ada, MI
Grand Rapids MI Real Estate

Thanks for commenting Lola, just trying to educate future sellers.

 

 

Robert, expensive remodels are great if you plan to stay in your home and enjoy them - just don't expect buyers to reimburse you.

 

 

Treadstone:  Sad, but true, pools are usually not a financial asset in a home.

Oct 27, 2011 02:50 AM