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I am curious what type change, if any, does adding things like a high end, in ground pool, a summer kitchen, extensive decking/pavers, a fire pit, and hot tub do to a home value? Positive? Negative effect? Opinions?
I will speak from a buyers perspective because we are in the market now. Personally, we are not in the market to have a pool so I see it as an expense more than an asset. Above ground is not too bad since I can easily pull it down. I won't speak to an outdoor kitchen cause I'm not expecting one in the price range we are looking. Hot tubs I see as items that would be part of the contingencies put into an offer and not something given like say appliances right off the bat.
I DO however look at the outside of the home; shape of the windows, clean siding, clean gutters, slope of the yard. I have noticed that many people just seem to not a give a **** about their exteriors which is boggling. We are not looking for cheap scrap homes either (300-400 range), and I have seen newer nice colonials with faded or green all along the panels or dirty stained gutters. I may not live in paradise right now, but I powerwash my home every other year and it's not that hard.
Shrubs and bushes are of no concern because I will most likely be planting my own. Grass is something I am very knowledged in bringing back or keeping up, but I will pay notice to trees. Checking to see if they have been kept trimmed, look like they may need to be taken down or could pose a danger to the house, etc. Also brush. Just because your property ends at X line, doesn't mean you should just let that last 5' go. I've seen plenty of homes where they don't seem to want to keep a clean property line and it drives me up a wall. I'm pretty OCD about my lawn and landscaping though.
Also fencing now that I think of it. Broken, faded, dilapidated just turns me off. Seeing a clean well kept fence is definitely something I keep an eye on. And as I think of it, roofs. I understand not everyone is going to put a new one on before they sell, but you could make sure it's cared for and not spouting moss growths.
I guess it's similar to the interior of the home. If it looks clean and pretty well kept then I rest a little easier with the possibility everything else was well kept and cared for such as furnaces, AC units, etc. When I see a home in dead winter with the screens still in and looking worn, I worry.
I am curious what type change, if any, does adding things like a high end, in ground pool, a summer kitchen, extensive decking/pavers, a fire pit, and hot tub do to a home value?
Just about ZERO.
Do those things because YOU like X or Y or Z.
But if/when you do a project? Do them right and then commit to keeping them up.
Poorly done and poorly maintained will detract from value.
And detract far more than those things being there would ever add to value.
Do those things because YOU like X or Y or Z...
but if/when you do then do them right and commit to keeping them up.
Poorly done and poorly maintained will detract from value...
far more than those things being there will ever add to value.
Summed up what I tried to explain in all my nonsensical writing, lol. Don't go adding things that are not there, but ensure that the things that are there are clean, and well kept.
Do those things because YOU like X or Y or Z.
But if/when you do a project? Do them right and then commit to keeping them up.
Poorly done and poorly maintained will detract from value.
And detract far more than those things being there would ever add to value.
Great advice from both of you.
They are things we will definitely enjoy. I plan to do it right, regardless. For me, it's about enjoying nature and the outdoors. I have pared down to what is wanted, removed what is nice to have and decide upon what is manageable.
Do those things because YOU like X or Y or Z.
But if/when you do a project? Do them right and then commit to keeping them up.
Poorly done and poorly maintained will detract from value.
And detract far more than those things being there would ever add to value.
I pretty much agree. You don't get your money back on any of those things so do them for your own personal enjoyment but not to sell a house or add value.
For me, I don't see how adding anything at all can add to the value of the home.
If you can spend $5,000 for a hot tub, or $20,000 on a new kitchen, I can too. And I'll have it the way I want it. Why would it increase the value more than what you put in to it?
The only thing I could see really increasing the value of an apartment is if you bought the adjacent one (next to, above, or below), and joined them in to one big unit. Then it may be worth more than
Do those things because YOU like X or Y or Z.
But if/when you do a project? Do them right and then commit to keeping them up.
Poorly done and poorly maintained will detract from value.
And detract far more than those things being there would ever add to value.
Quote:
Originally Posted by Brandon Hoffman
I pretty much agree. You don't get your money back on any of those things so do them for your own personal enjoyment but not to sell a house or add value.
I would agree as well that there really aren't any home improvements that add more value than they cost to make. I always like to use the Cost vs Value report from Remodeling Magazine as a rough guide. Many home improvements will vary regionally in terms of how much value they add and they have regional versions of the table. For instance, in New England a pool generally takes detracts from the value of a home where as in Arizona a pool is a must have.
Depends on what the current condition is. Minimal improvements to a seriously neglected or bland yard can help, but probably none of the "big ticket" items you listed will re-coup their cost on sale. A patio on the other hand, if there isn't a good one, makes the outdoor space more usable and valuable. A house without some usable outdoor area for BBQ's etc.. makes the place look less homey or lived in.
A beautiful garden and a lovely lawn will sell a house much quicker, and time is money. If you are selling, it is nice to sell fast. If the yard is pretty enough, it might get you a few extra dollars, but very unlikely to get you back what it cost..
A nice brick patio with a built-in barbecue might sell a house quicker, but a summer kitchen won't have any value to most people. I'd like to have a summer kiitchen but won't pay much extra to get one, unless it is really fabulous.
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