3 Home Upgrades That Look Luxe but Can Hurt Your Resale Value
Luxury upgrades can make a home feel more personalized and expensive, but they don’t always help when it’s time to sell. For example, some upgrades work well for the current owner, but make the home appear less practical for a prospective buyer.
Before spending big on high-end changes, homeowners may want to think about whether the upgrade will appeal to future buyers or mainly suit their own lifestyles.
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Turning Bedrooms Into Luxury Space
Amber Eckert, a Windermere real estate agent based in Seattle, said that any upgrades that remove a bedroom can hurt a home’s resale value.
She explained that she once toured a home with four upstairs bedrooms, but two of the bedrooms could barely fit a twin bed. The reason was that the previous owners had stolen space from them to create the grandest walk-in closet she’d ever seen. She said that while the closet was amazing and made sense for empty-nest owners, it was also the house's downfall.
“Not surprisingly, this upgrade was made by a pair of empty nesters whose kids had been out of the house for 20 years,” Eckert said. “The problem was that the home was in a very family-oriented neighborhood, surrounded by family-sized houses, and almost every prospective buyer was another family. So anyone looking for a true three- or four-bedroom house almost immediately crossed this one off the list because two of the bedrooms were unusable.”
Putting in a Luxury Pool When It Doesn’t Make Sense
Eckert said that although a pool can be a major selling point for a home, it’s only a good idea if the climate and setting make sense.
She explained that installing a high-end pool in a climate where it can only be used two or three months a year means a lot of upkeep for little return, and it’s going to turn off many prospective buyers. Another factor is having the right type of yard, according to Eckert.
“Far too often, I tour homes where pools have been installed at the expense of the larger outdoor experience,” she said. “I never recommend that my clients put in a pool unless they have ample grass or green space to complement the setting.”
She added that a backyard made up entirely of a pool will be a non-starter for many prospective buyers. She explained that while a pool may feel like a luxury, it can easily hurt the home’s resale if it limits how the yard can be used.
Changing the Interior Character of a Home
Eckert pointed out that most people have seen examples of interior remodels done at great expense, yet in a style and aesthetic completely at odds with the home's.
“An original-era Craftsman that’s been turned into a white-walled contemporary,” she said. “A mid-century remodeled into a modern farmhouse. A Queen Anne that’s been turned into a minimalist open concept.”
She said that although the remodels themselves are often gorgeous and very luxurious, they are done to the wrong home. She added that kind of upgrade can make a house feel less like “itself,” which she said is a real problem when buyers are drawn to the home for its original character.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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