Whether you plan to sell your Scottsdale home soon or want to stay in it for several years, you might be thinking about upgrading certain rooms or features. But if you’re going to be spending money on your house, you want to be sure you can recoup most of those costs when it’s time to sell it.
Here are the home upgrades that tend to offer the lowest return on investment–and thus the ones that you can put off for awhile longer:
Bedrooms converted into other spaces
In general, the more bedrooms your house has, the better. So if you plan on converting any of your bedrooms into a different type of space, make sure it’s not a permanent change. For example, if you turn one of your four bedrooms into a large walk-in closet, dance studio, or theater room, you might be happy with the change while you live in the home. But when you decide to sell the property, you’ll see how much turning a 4-bedroom house into a 3-bedroom house reduces the value, which is why you should stick to temporary room conversions when possible.
It might be tempting to add some square footage to your house by turning the garage into livable space. But in reality, this decision could hurt your property value when you sell the home. As much as a man cave, recording studio, or playroom sounds nice, most people want a garage where they can park their car. This might be hard if you’ve added a carpet and a ceiling fan! If you do decide to make some changes to the garage while you live on the property, be sure to reverse them before you put the house on the market, unless it’s a practical change like more storage space or a freshly epoxied floor.
Luxury home improvements
If your property was not considered a luxury home when you bought it, making luxury upgrades might not be a good way to spend your money. While you might enjoy the marble floors, custom carved wooden doors, or imported tiles for your backsplash, some buyers may not be willing to pay extra for those upgrades. This doesn’t mean you can’t spend a little money making your Scottsdale home look a bit more luxurious, but you shouldn’t necessarily expect to get your full investment back when you sell the house.
A swimming pool
Sure, many buyers in Scottsdale want a pool, but you may not recoup the cost of a new pool when it’s time to sell the house. In general, a pool can add up to $10,000 to the home’s value, but it often costs closer to $25,000 to put in. You should also keep in mind that not all buyers want a pool, since it can be costly to maintain and is a safety concern for families with young children. If the only reason you want to add a pool is to increase the amount your home will sell for, stick to other home improvement projects that increase property value.
Of course, if these upgrades will help you enjoy your house to the fullest, feel free to make them. If you have any questions about the process of selling your home, or which upgrades might be worth the money, contact The Matheson Team for help today.
Realtor | Founder
The Matheson Team – RE/MAX Fine Properties
21000 N. Pima Rd., #100, Scottsdale, AZ 85255