Home renovation is often touted as one of the best ways to invest your money, given that making upgrades can increase the price tag of your property when it comes time to sell it. This line of thinking often holds water.
However, not every renovation is a good idea, or a smart homeowner money move, especially if you’re considering listing your residence sooner than later. Some of them can drain your finances — which is definitely not the goal.
Here are 14 home upgrades that don’t give you the most bang for your buck.
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Bedroom conversions
If you only have two people living in a four-bedroom home, you may be tempted to convert one into an office or other functional space. But don’t do anything permanent.
When it comes time to sell, buyers may be turned off by the lost bedroom, resulting in a lower price for your property.
Customized kitchens
Kitchen upgrades are often a good idea — especially if yours is outdated — but don’t go overboard with the customization. All those extras can add up and might not be something buyers appreciate down the road.
Instead, stick with practical upgrades you can enjoy that also have broad appeal.
Built-in fish tanks
This is a perfect example of niche customization gone awry. While it’s not a common sight, some people have installed custom fish tanks in their homes, something usually seen in commercial spaces.
The odds are buyers will want it removed or not buy the home at all. Plus, fish tank upkeep is laborious and expensive.
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Entertainment rooms
Having a dedicated home theater may make movie night more exciting, but splurging on high-end, built-in furniture, soundproofing, and screens may be a waste of money.
You’ll save money doing a modest basement conversion that can be undone when you sell your home. Plus, you’ll save money in the short term.
High-end toilets
All homes need toilets, but yours probably doesn’t need a throne that costs thousands of dollars. Sure, it would be nice, but you can probably do without all the bells and whistles.
Amenities like bidet attachments can be purchased much cheaper, providing similar benefits.
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High-maintenance landscaping
Everyone loves a gorgeous garden; a well-tended outdoor area is good for curb appeal. But before planting and adding fancy fixtures, consider the upkeep and maintenance.
Elaborate landscaping also comes with a high water bill and potential negative environmental impacts.
Hot tubs
Soaking in a hot tub is a relaxing experience for your health. But if you have one installed on your property, be prepared to pay thousands upfront; hot tubs aren’t cheap.
Neither is maintenance, as hot tubs need to be cared for to function properly. That doesn’t include potential repairs, either.
Luxury finishes
Most of us live in fairly standard residences, and installing pricy, permanent luxury fixtures and finishes will not significantly affect future property prices.
Sure, you might enjoy them, and that’s great — but just know that you’re likely not going to get a lucrative return on such an investment.
Outdoor kitchens
Outdoor kitchens can provide a good return on investment for the right buyer. However, good ones are not cheap to install, and extras like pizza ovens can add up quickly.
You can save money by creating a modest setup with a grill and seating, which will also reduce utility bills.
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Repurposed garages
Garages can be many things, so converting them into specialized spaces like an extra living area is tempting.
But that means you lose a place to put vehicles, which can be especially problematic where parking is an issue. Plus, a complete conversion takes a lot of work and plenty of cash to do it right.
Smart appliances
If you plan to live in your home for many years, you’ll likely enjoy your smart appliances if you install them. They do have their perks.
But when it comes time to sell, don’t expect a good return on investment. This technology ages quickly, meaning they’ll be out-of-date down the road.
Swapping tubs for large showers
A long, hot shower in an upscale, large space can feel like the pinnacle of luxury. Just don’t replace the only bathtub in your house with one.
Some folks, like older adults, people with disabilities, and families with young children, rely on tubs, so your future pool of buyers may dwindle (along with your home’s value).
Swimming pools
If you don’t already have a swimming pool, building one is extremely expensive. Then, there are maintenance costs to consider, as pools need to be cleaned regularly.
Add to that the fact that potential buyers may be turned off by all of that maintenance, making swimming pools a huge potential waste of money.
Trendy upgrades
Remember when open concept was all the rage, and then the COVID-19 pandemic quashed that? That’s one big example of why you shouldn’t chase the latest home trend.
This is especially true if you have an old home with the charm of its era. You’re better off making sure it’s restored to perfection.
Bottom line
Renovating your home is one way to invest in your equity and, if you're lucky, get a great return. Plenty of upgrades can do that, but unfortunately, not all are wise moves.
One thing to take into account is ROE, or return on enjoyment. So factor that into your decision-making along with the bottom line to achieve maximum fulfillment and avoid wasting money.
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