Here is an AWESOME article that I found on www.omahalivingonline.com regarding the value of certain improvements that homeowners make in hoping to improve their resale value. While some of these may be attractive for some buyers, they don't necessarily translate out to dollar for dollar return on your investment when it comes to your actual home's resale value. Enjoy!
5 Worst Updates you can Make to your Omaha Home
Updating your Omaha home can be beneficial. However, there are some renovations that should not be done with the expectation that they will pay off if you decide to sell the home. Some may actually have the opposite effect. Here are five of the worst updates that you can make to your Omaha home.
1) Creating a specialized space in your Omaha homesuch as a wine cellar or adding a pool house may work well for your family’s needs but buyers will not likely want to pay extra for the additions.
2) Swimming pools are not always viewed as a plus. Often people would rather not have the extra work associated with maintaining a pool – PH-balancing, filtering, skimming and winterizing. Depending on the area of the country in which you live, a pool can be a normal part of the home or it may not provide a return on your investment.
3) If you are considering the addition of a home office, this may work well for you, but others may not see the benefit. The use of space that could be an extra bedroom or that reduces the amount of living space such as a living room will generally only permit a return of about half of what you have spent on the addition.
4) Renovations that include luxury items such as state-of-the-art kitchens or steam showers will probably not result in more money for your Omaha home if you decide to sell. Upgrades that are beyond what is standard for your neighborhood can backfire. Too many improvements can price your home out of the reach of buyers that are home shopping in your area.
5) A roof is viewed more as a necessity than anything else. Adding a new roof with architectural shingles or cedar shakes can improve the look of your Omaha home, but buyers are not going to spend extra for this upgrade. If your home needs a new roof, have one installed, but stick to what is typical for the area. Otherwise you will not recoup the money spent on a luxury roof.
If you have any questions about what sort of improvements you could make that would increase your home's value accordingly, contact me and I will be glad to help you with those decisions.