Upgrading your home can be a great way to enhance your comfort and potentially boost your property’s value. However, not all renovations are created equal, and some can end up being costly mistakes that don’t provide the expected return on investment. Before you start planning major changes, it’s important to consider which upgrades might not pay off in the long run. This article takes a closer look at some home investments that could end up being more of a burden than a benefit.
Complicated Smart Home Systems
There’s no harm in jazzing your home up a little with some smart features, but complex systems can be difficult to maintain and troubleshoot. Compatibility issues between different brands and devices may also arise. Consider simpler, more user-friendly smart devices that meet your essential needs.
Backup Generators
Unless you live in a rural or off-grid home, chances are that you’re not going to need a backup generator at any point. They can cost a lot of money to install and maintain, and they are more functional than aesthetic, offering limited added resale value.
Home Cinemas
If you have a large family or regularly host get-togethers, you may consider home cinemas worth the investment. For most people, however, these rooms end up rarely being used, especially among families that don’t frequently watch movies or play games. Home cinemas can also be expensive to install and maintain, with technology quickly becoming outdated.
Overly Luxurious Bathroom Upgrades
According to Architectural Digest, “It costs an average of ~£8,500 to remodel a bathroom, but this project can range from ~£2,000 to ~£60,000.” With this in mind, you may want to reconsider high-end fixtures and finishes that don’t add any practical value. The complexity of maintenance and cleaning might not justify the luxury.
Sunroom Additions
Sunrooms may sound dreamy, but they can require significant maintenance and might not appeal to future prospective buyers. You may also not end up using it as much as you think you will. We suggest you consider alternative outdoor structures like gazebos or screened porches.
Custom Built-ins
Custom built-ins, like shelves or closets, can be costly and might not suit your needs or tastes over time. They also limit the flexibility to rearrange or repurpose rooms. Of course, you can do further renovations in the future, but overall, this is one investment to think twice about. You can always choose freestanding furniture for adaptability and cost-effectiveness.
Garage Expansions or Additions
According to HomeGuide, garage expansions range from ~£7,500 to ~£18,,000, meaning this isn’t a cheap investment. However, in the long run, larger or more elaborate garages don’t significantly increase resale value. Unless you have a real need for the extra space, we suggest you focus on improving the existing garage space rather than expanding it.
Elaborate Light Fixtures
High-end lighting can be both costly to purchase and install. It’s important to consider the practicality and ease of changing bulbs or maintaining the fixture. Simpler, more energy-efficient lighting might be a better long-term choice (for your wallet and your peace of mind).
Exotic or Unusual Countertops
Most unique countertop materials can be expensive and require special care. Consider the longevity and resilience of the material you desire in a frequently used space like a kitchen or bathroom. If you’re up to the task, why not? If not, more traditional options like granite or quartz can offer durability and style.
In-Home Gyms With High-End Equipment
Expensive fitness equipment can become redundant if your workout preferences change over time. Consider the space your potential gym occupies and the cost of upkeep and cleaning. You may want to go for a more versatile fitness solution that can adapt to different exercise routines.
Ornate Architectural Details
Intricate designs, like trim and molding, can be costly to create and maintain. These details may not align with future changes in interior design trends, your own preferences, or future buyer preferences. Simpler, timeless architectural elements can offer a better long-term aesthetic.
Overly Themed Children’s Rooms
As said by Homes & Gardens, “It can be so tempting to go all out with a color scheme or theme, but do bear in mind, tastes change in a second with children, so avoid going too hard.” Themed rooms quickly become outdated. We suggest considering a more adaptable décor that can evolve with your child’s age and interests. Choose decorations that can be easily updated without major overhauls.
High-End Kitchen Upgrades
If you’ve got endless money to spare, then go for all the high-end appliances you can get your hands on! If not, we suggest that they’re just not worth the cost. Luxury appliances and materials often don’t recoup their value, and over-the-top kitchen renovations can be overkill for potential buyers if you’re planning to sell at some point.
Wallpaper Installation
Wallpaper styles are highly subjective and might not appeal to all. Even your own tastes can change quickly! If you’re planning to sell in the near future, most potential buyers prefer homes ready to move in without modifications, and removing or painting over wallpaper can be a hassle for new homeowners.
Wine Cellars
According to Wine Enthusiast, “7,000 years ago, Neolithic people in Iran stored wine in pottery jugs, buried under dirt floors.” We’ve come a long way since, with homeowners now opting for tech-forward wine storage cellars. However, the installation costs can be very high, and not all future buyers may be wine enthusiasts. If you’re not an absolute wine fanatic, we suggest giving this one a miss!
Extensive Landscaping
You may want an extravagant, aesthetic-looking garden, but they require a lot of upkeep and ongoing costs. Overly elaborate gardens can also deter future buyers who aren’t keen on maintenance. So, aim for a balanced approach instead that offers curb appeal without excess.
High-Maintenance Flooring
It may look pretty, but flooring that requires extensive upkeep can be a drawback and a risky investment. Consider the durability and ease of maintenance of your flooring choices. Hardwood floors, for instance, offer a balance of appeal and functionality.