However, not every renovation project is worth your time or money, and when you decide to sell your home, you may be disappointed to learn you won’t recoup the money you spent. Go ahead and craft the home of your dreams with whatever projects you like, but if your goal is to boost the selling price of your home, these improvements aren’t the answer. Ditto for a waterfall that cascades down into the pool—and that’s because landscaping choices are a personal preference. “A buyer may care and give the exotic landscaping value, but the appraiser doesn’t care if your palms are exotic or not,” she explains. Her view is shared by Christopher Totaro, an agent at Coldwell Banker in New York City. “Once you go beyond manicuring the yard and adding a few splashes of color, you are spending the extra money for your own enjoyment, so don’t plan on making a profit.” If your lawn is brown, by all means, he says laying sod can improve curb appeal and help the home to sell faster. “But going much beyond that will be a waste of funds,” Totaro warns. If you really want to add some inexpensive and colorful flowers to your landscape, try adding easy to grow plants to boost your curb appeal. “State-of-the-art lighting fixtures and fancy chandeliers can be replaced with inexpensive lighting from places like Home Depot and Lowes—just make sure there are lights!” And she says it’s the same with AV equipment. “TV features and capabilities change every other year, as do audio components, and while the latest electronics are enjoyable, I don’t believe this kind of upgrade will pay off when the homeowner becomes a seller.” In fact, Bonnie Lindenbaum, an agent at Coldwell Banker in New York City, is hesitant to recommend remodeling kitchens (and bathrooms) at all. “I usually suggest they sell the home ‘as is’ and include the cost they might incur in the negotiations,” she says. “This allows the buyer to renovate to their liking, the seller to put it on the market quicker, and both parties walk away happier.” Vivian Yoon, co-founder and realtor at Highland Premiere Real Estate in Los Angeles, agrees. “Gold-plated bathtubs, toilets, porcelain tiles, or beyond-expensive faucets cater to a very specific audience,” she says. “Gilded ornate furnishings and insanely expensive wallpaper will not attract most mainstream buyers—and your goal is to appeal to as many buyers as possible.” Yoon recommends simplifying your style to make your house appealing to the mainstream buyer. “If your style is too specific, attracting the general consumer will be more difficult, because they won’t be able to imagine how they would furnish and decorate your home.” The problem, according to Williams, is that some homeowners see updated plumbing and electrical as home improvement, but she says it’s really maintenance. “Someone may pay more for it because they see the value of having these updates; however, spending $60,000 on updating plumbing and electrical will not bring you back $60,000,” she explains. Ultimately, routine maintenance is not a home upgrade that you should skip. Instead, don’t expect to increase your home value from these updates that most buyers expect.
