Renovations to Skip Right Over

I love the idea of building my own home, but realistically, a custom-built house probably won’t be the first home I own. Most likely I’ll have to wait to break out that Hitachi Mini Excavator to prep my own land. Chances are I’ll buy a fixer-upper that needs a lot of elbow-grease. Besides the normal paint, flooring, cabinetry, plumbing and semi-major repairs that many fixer-uppers require, I might as well make some renovations count while skipping right over others.

Renovations that seem to get the most bank for their buck include kitchen and bathroom upgrades. Tile flooring, new (generic and modern) cabinetry, and granite counter-tops seem to appeal to most buyers. As long as I stay within a neutral color range and select middle-of-the-road appliances I should get my money back when and if I decide to sell. If I know I’m not staying in my first home forever, I’ll skip the Viking appliances.

Landscaping that matches a region, is low maintenance and compliments the house is also a definite “to do.” To do it right, it takes some planning, mulching the soil, and making sure the overall design of the yard fits the neighborhood.

Many older homes don’t have central heating and air; another upgrade I’d invest in if only for my own comfort while I reside in the home.

However, some renovations I’ll skip right over including putting in a swimming pool. Unless the house is located in a desert (okay, I understand pools in Arizona or Nevada – boiling hot there and probably a strong selling point!) a pool goes unused the majority of the year. Even in a temperate climate, the chances of getting the money back when the time comes to sell the house is slim. Granted, I’m not much of a swimmer so maybe this is my biased view point, but the cost of installing a below-ground pool is around $10,000. I can’t imagine getting the money back in sale unless you count the usage as part of the “money back.”

I also don’t think I’d go into room additions unless it would greatly improve the layout of the house. Older homes are known for their boxy layouts and lack a general flow. Knocking out a wall and expanding a living area might be something I’d think about, but adding a bedroom or den on willy-nilly could be disastrous and actually hurt the home’s value.

Another renovation that doesn’t make much sense is renovating a basement. I can understand making the basement a family room or play room (slapping up some paint and installing carpet perhaps), but to renovate it strictly to get the money back in a resale doesn’t make much sense. Most people I know who own homes with basements don’t use them and I can’t see a refurbished basement making or breaking a sale.

When it comes to renovations, I think I still with what I like as well as keep reselling the home in the back of my mind.

Have you renovated your house? What upgrades did you skip right over?