Home Depot has been helping people add value to their homes for decades. For the last couple of years, We Are Coupons has helped people save money at Home Depot when shopping online with the best Home Depot Coupons you can find. However, despite the many amazing ideas that can add value to your home there are some home improvements that could leave you seriously out of pocket. In the current, somewhat uncertain times property prices are a little harder to predict and trying to add too much value to your home can backfire. These 4 home improvements are close to pointless in 2020 if you are simply wanting to spend money and make an extra return through the sale of your property.
Potential Loss: $18,000 to $20,000
Adding an extension to your home can be cheaper and more cost-effective that buy up the ladder and getting a bigger home. However, just building an expensive and good looking extension may well leave you seriously out of pocket if all you are doing is trying to increase your profit. A bigger house with more rooms is not always a more profitable house when sold. However, there is a plus side as part of the process of adding an extension that can add significant value when selling a house. Securing planning permission is not a costly exercise and selling your property with planning permission for an extension can add value in quite a simple and effective way.
Potential Loss: $20,000 to $25,000
A Home Cinema with all the right equipment and seating is a popular addition to any home. However, just because this is a popular “home improvement” does not necessarily make it a great investment or something that will add value to your home. In fact the cost of the entire set up normally makes little or no difference to the selling price, yet the buyer may insist on it remaining. Your house may sell faster but at the expense of a super-cool, Dolby surround sound cinema.
Installing a Tennis Court
Potential Loss: $25,000 to $30,000
There are very few people who would not die for a tennis court in their garden. If you are a family and intend on staying in the property and using the tennis court then it makes a good investment. However, if you think a tennis court will mean your property is worth more think again. The cost of installing a professional tennis court is high and a tennis court adds surprisingly little to the value of a property and people know how much they cost to maintain.
Potential Loss: $25,000
Converting your basement into a wine cellar may sound like a superb idea to you but very few people use their basement for this purpose. A wine cellar costs a lot of money to install properly and the repurposing of valuable space can reduce the value of your property in the eyes of many buyers. Unless you plan on selling to wine connoisseurs you may want to give this a miss.