Improvements or Wishful Thinking?

Improvements or Wishful Thinking?
2/16/2024

 

Houses are like body shapes. Most have two arms and two legs but all bodies are not created equally. Some have better bones and finishes than others. Like our bodies, we can do things to improve our houses. Some of the“improvements” may seem like real upgrades but overall they can give you no added desirability (value). In some cases, they can cause your value to decrease.

1. Solar Panels. Saving the earth is admirable, but adding solar panels to your roof does not increase the value of your home. Panels decrease in performance over time, are expensive to remove and replace when you need a new roof, and many buyers are wary of the complexity of owning panels.
2. EV chargers. Everyone could drive a Tesla, but the fact is the majority of the potential buyers do not drive electric cars. For the average buyer the expensive charger brings no added value.
3. Above Ground Pools. These are only valuable to the current owner. Most buyers see these as an expense and something that needs to be removed.
Hot Tubs. Do you know what people do in those things?
4. Storm Bunkers and Panic Rooms. Overall people just consider these “Prepper” conversation pieces.
5. Solar Screens. Take them off and hide them in the garage. No one likes a dark house even if you saved $12 on your electric bills last year.
6. Playground Equipment. Many wooden playgrounds last for a few years before they turn into a supplier of ER visits. They become the Buyer’s headache.
7. Skylights. Buyers think “When will that start leaking, if it hasn’t already?”. They do light up a room, but not a buyer’s smile.

The best way to add value to your home is to clean, clean, clean, fix up the landscaping with plants and mulch, stage your home (virtually or with actual furniture) and make sure the paint is fresh and complete. Then, clean again.

The best tool an agent has to help you sell your home is to know what increases the market price of your home and what doesn’t. Getting the price right is the number one thing you can do to sell your home for the most money. Price it right from the start and avoid the headaches of sitting on the market for way too long.

Steve Mallett is a top Broker in the Austin area and the host of the weekly podcast Mallett and Michelle on Dripping Springs. Call him at 512-627-7018.