The 7 Worst Home Renovations You Can Spend Your Money On

While these seven home upgrades can certainly improve your family’s overall enjoyment of your home, they may lack on ROI when it comes time to sell.

1. Master Suite Additions 

According to the experts, an upscale master suite addition (i.e. walk-in closet addition, large shower, dual vanities and soaker tub, etc.) will set you back approximately $282,062. There’s no denying that a master suit retreat can deliver endless value when it comes to homeowner convenience and comfort, but with an average ROI of only 51.6%, you’re not likely to recoup your initial costs. 

2. Over-the-Top Landscaping

Great home curb appeal will always pay off. But, when it comes to landscaping, it is possible to have too much of a good thing. This is because upscale landscaping, while attractive, says “complicated” and “high-maintenance” to prospective buyers. Of course, this isn’t to say you shouldn’t enjoy your yard to its fullest, but we do recommend toning it down come sale time. 

3. Bedroom Conversions

We can’t stress this enough: any home renovation that requires sacrificing a bedroom should be avoided. While we understand the urge to create that custom home office or combine two rooms into one super space, a reduction in bedrooms almost always equals a reduction in your home’s value. 

4. Upscale Bathrooms and Kitchens 

One of the first things any reputable Edmonton REALTOR® will tell you is that buyers LOVE kitchen and bathrooms. So, while it is worthwhile to do a few upgrades for yourself (i.e. new light fixtures, new appliances and/or countertop replacement), don’t overdo it. Not only are major renos in these areas expensive, but the heavy amount of customization involved can reduce buyer appeal. 

5. Swimming Pools

Admittedly, you won’t find a ton of Edmonton real estate listings featuring a pool, and for good reason; Edmonton isn’t exactly known for it’s hot and balmy weather (in which case a pool investment would probably deliver a healthy return).  As many Alberta-based buyers are likely to view a pool as a whole lot of extra maintenance (compared to say, in-floor heating or heated garage spaces), you might be better off buying a membership to your local leisure centre instead. 

6. Ultra-Personalized Décor 

When renovating to sell especially, bright feature walls, loud wallpaper and quirky tile patterns are the ultimate no-no. We’re all for expressing yourself, but if you hope to attract buyers (and a higher asking price), it’s best to forgo extreme personalization in favour of appealing to the masses.  

7. Sunroom / Four-Season Room Addition

Sunrooms, although ideal for the resident green-thumb, tend to be expensive to build while delivering a low return on your investment (i.e. only 45- 50% ROI at the max). Here again, if you know this addition will enhance your lifestyle and enjoyment of your home, go for it! Keep in mind, though, it may not count towards your overall square footage and could limit your pool of potential buyers down the road.

Summing It All Up 

Ultimately, your home is your castle and any upgrades that contribute to your quality of life and happiness therein are well worth it. However, if you’re planning on moving sooner rather than later or concerned about the potential impact certain renovations could have on your home’s value (and your bank account), be sure to consult with your Edmonton REALTOR® and/or do a little research ahead of time. 

See also:

• A Step by Step Guide to Renovating Your Home (For a Great Sale) 
• 6 Simple Renovations to Make Before Selling
• The Top 3 Home Renovations That Will Bring You The Most Money

How much is your Edmonton worth? Find out with the help of our free and informative Home Evaluation. And, for more helpful home-related tips, tricks, advice and the latest on Edmonton real estate, we invite you to browse our blog.

Photo credits: shutterstock.com

Categorised in: Selling a Home

This post was written by Terry Paranych Real Estate Group