Pricey Renovations That Aren’t Worth the Cost

It’s fun to fix up a house, but some renovations are just not worth the cost. Before diving into a big change for your home, set a budget and weigh your options. Many people find that fixing up or adding certain features to their home actually causes them to lose money. The following is a list of pricey renovations to seriously consider before beginning a new renovation project:

Revamping an Attic

When you move into a place with an attic, it can be tempting to fix it up and make it something special. You see fun ideas on Pinterest or whilst scrolling through Google Images and a fire sparks within you. However, something to consider before you get out those tools and shed those dollars, is that often attics aren’t sturdy, they don’t have ample space to do activities in, and they weren’t built to be anything more than a place to store things in. If you do have a big attic, it most likely won’t stay that way once you start renovating. The ceiling may need to be lowered due to duct issues, and other accommodations may need to be made, such as adding strength (and more layers) to the floor. Also, in order to meet the proper requirements, the ladder or small staircase will most likely need to be replaced with a bigger, sturdier set of stairs. Also, temperature becomes a big issue, and according to Bottomlineinc.com, revamping an attic can quickly creep past $35,000.

Turning a Basement into Something More

It’s always tempting to turn that rickety old basement into a bonus room or home library, but at what cost are we willing to do that? It usually takes months and months, sometimes even years, to get everything together and done for this to happen, not to mention the countless thousands you end up spending on fixing everything up. Another issue that could arise is issues with mold from moisture coming from upstairs, or even rain that may have spilled in if there are small windows towards the top of your basement. You’ll also have to make sure no creepy crawlers have nests in there, or rodents. After adding up all the costs of painting, cleaning, exterminating, building, fixing, and so much more, it comes down to one thing: it is just not worth it.

Remodeling a Bathroom

Bathrooms are meant to do a number of things, but they aren’t meant to serve the Queen of England or host a bridal party, so why remodel a simple bathroom with large vanity areas, eccentric trimmings, or unusable furnishings (such as an embellished counter rather than one with drawers, cupboards, and other useful amenities)? You can make your bathroom look nice, neat, and even fashionable and cute. However, remodeling a bathroom doesn’t usually increase its function; it just makes it look better, and oftentimes makes its use more difficult. If you’re looking to cut costs on remodeling jobs, this is definitely one room you can feel safe skipping (if it is functioning properly, of course).

Built-In Kitchen Tools

Some homes have built-in can openers, wine coolers, and other fun amenities. However, some of these built-in kitchen tools are often not worth the money you spend on them. While a built-in can opener may be well used and worth the money, something like a wine cooler or personal beer keg coupler may not be. Oftentimes people will have an idea and think it will work out great and be used for parties and other functions, but more often than not, the price far outweighs the usage.

Putting in a Pool

Before deciding to spend the big dough on putting in a pool, ask yourself how much you’re going to use it. Do you often go somewhere to swim now? Do you live where it’s a warm climate? There are many questions to ask yourself before putting in a pool, but there are many times where people put in the pool and let it sit there all year long. However, other people make great use of their pool. It depends on the person, but if you aren’t a big swimmer, chances are you won’t use it and you wasted a lot of money on something you’ll only go inside a couple of times before choosing to fill it back up again (or selling your home). Also, if you are planning on selling your house, many people are actually afraid of having a swimming pool because they view it as a danger to the home, to any pets or family members that could potentially drown inside.

There are many reasons to renovate a home, so don’t skimp on something that could add value to your home, whether for you or for a future buyer. However, keep in mind these five common renovations that tend to be more money than they’re worth. Do your research, think it through, set a budget, and come to a decision that is best for you.

Sources:

http://bottomlineinc.com/11-home-renovations-that-arent-worth-the-money/

http://www.theglobeandmail.com/real-estate/mortgages-and-rates/six-renovations-that-dont-add-value-to-your-home/article11914824/