AVOID These Home Updates That DON'T Add Value
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- เผยแพร่เมื่อ 1 ต.ค. 2024
- Updating your home can be a rewarding process but if you're thinking about selling in the next 3-5 years, you'll want to make sure you avoid spending money on updates that don't add value. In this video I go over the top updates you'll want to think twice on before investing your hard earned money into updating your home.
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It’s not always about ROI. Being happy in your home is important. Life is short. Do what you want to your home and enjoy 💕
@donutdomination139 She does say many times if you plan to stay in your home for a long time, do what you want! If you want to do and enjoy the modifications in spite of the cost, go for it! But if you are going to need to sell in a small number of years and you aren't wealthy/need to get your money out of the current house to pay for the next one, these things will just drain your wallet.
Exactly. I hope to live in this house till the day I die. I am not updating it again. So I updated it over the last three years. Did what I wanted. Didn’t really worry too much about ROI.
You also can’t enjoy life if you’re broke
@@donutdomination139 I was thinking the same thing, but she did say at the very beginning of the video, that IF you plan on selling your home.
@@donutdomination139 she was very clear “IF” your going to sell your house.
A good rule of thumb do not put a Mercedes in a Ford neighborhood.
@@conniehanna1843 😁😆
Home improvement is not only value add. It is the quality of life thing.
I concur on the landscaping . I had LAVISH cottage gardens at my previous home. It looked AMAZING. BUT--so many of the folks looking at those flowers thought---work.
This was supposed to be our forever home, but we ended up having to move and those flower beds ended up limiting my pool of potential buyers. Most people prefer a few beds of shrubs and mulch.
On a side note---at our new "forever" home---I am putting in AMAZING cottage / prairie borders.
Some people never learn...............
:)
I will be selling in a few years. My gardening projects are for me and are not being done as an "investment" to sell. Started out as my way of dealing with my mother's passing (2020) and it was something I enjoyed so I've just kept at it. I always did veggie gardening but until now not a lot of ornamental landscaping. Anyway, the gardens bring a smile to my face each and every day.
@@mavisjones4750 I'm the same. I cannot stop myself. I did promise hubby I would convert it back to grass if we HAVE to sell again. Sorry about the loss of your mom. I lost mine 20 years ago and I still miss her so much............
😂😂😂
Thanks for sharing. I purchased a home with a beautiful garden unfortunately I have a brown thumb and it cost a pretty penny to remove many plants and trees that were too close to the house. I’m sure it cost the previous owners a lot of money and time but with in months most of the plants were dead but I did keep the grapevines. Moral of the story I prefer a blank slate or a beautiful hardscape with an outdoor kitchen. A pool is nice but not sure I want the upkeep and the cost to insure is worth it but love fountains. But doing anything for your own enjoyment is wonderful if you’re not looking for a return when you go to sale.
@@suemar63 Same after 40 Years...sorry for your loss. 💔
I really have no reason to watch this video, but it looked interesting enough that I clicked on it. You're going to do big things with this channel. The editing is great and the content is engaging!
Appreciate the feedback - thanks for watching!
@@zacharias.horsemanship 🤣👍🏿👍🏿
Don't ever say you're not selling the house. I said that for years. After retirement, I moved to sunny Arizona.
I had a DIY solar power system. I packed it all up and took it with me.😊
A permanent fixture with your roof mount solar panels is a bad idea.
You try to blend it in with your landscape. Mine was a deck rail mount and a large shed roof mount.
I had an immediate benefit from my solar power system. The DIY only cost me about 5,000 dollars after Federal tax credit. My power bill is only 20 cents per day 😊
I love the idea of the deck rail panels! How big was your home for 20 cents a day? My husband and I are adding on to our home. We have solar panels on our shed, I hated the thought of panels making this beautiful home he built me look bad. I like the idea of the deck railing panels!
We spent $58k on kitchen upgrades.
We won't see 1/2 that back but we are pleased.
Paid cash.
At the end of the day - your enjoyment of your home is the number one priority.
This is all good advice, but America has a problem. A house use to be bought for a place to live, but now people look at their homes as investments. Turn your house into your home and live your life as you see fit. YOLO!
@@charlesking678 And gain on the appreciation.
@@charlesking678 I agree with you. RE agents aren't the best source of information for what adds to the homeowners enjoyment of a home.
@@charlesking678 💯
Amen!! A house is supposed to be a home. We are never satisfied.
Only point I disagree on is turning the garage into a gym doesn’t prevent the next owner from parking a car in the garage. When I move the gym equipment moves with me and it’s right back to a garage.
@@UCQQdmntLgp7x7tuRZojCwUA in that case I would say you didn’t “turn” the garage into a gym, you just used a garage space for exercise equipment. I think she’s talking about changes that actually alter the space and change how it can be used. It’s like using an extra bedroom as an office, it’s still a bedroom that is just being used for a different purpose, when you go to sell you’d still call it a bedroom because it is, regardless of how it was actually used.
I moved to Florida and thought I found my forever home. I replaced the roof and put in impact windows, which were necessary. But I put an elaborate solar system on both the house and the barn. A year later I had to move and I did lose money on that solar system. But the people who moved there got a great deal.😢
I believe in solar so much that I ended up putting a system on my current house in central Florida too. On my old home when hurricane Ian came through, my daughter was still at the old house. The neighborhood was out of power for 2weeks, but she never lost power because of the solar.
so don’t turn my dining room into a Pirates of the Caribbean tavern?! NoOoOoOO!!!!
Absolutely do that. I would buy it.
😂
@@bruh_hahaha OMG. I am not letting my husband read this comment. He would absolutely want to do that haha.
All of these videos/articles always list the ROI on renovations as a percentage of what was spent. In other words, nearly all return less than they cost. Do the upgrade for your own enjoyment, and only if you plan to stay in your home for a long time. None are actual investments.
My landscaping and kitchen updates sold my house. Curb appeal. First thing I did was take the buyers around the backyard, and they gasped at how beautiful it was, not realizing the maintenance. From there, I took them thru the side door into the kitchen. The kitchen updates were done as needed. At that point, I could tell that they were sold on buying it. The interesting thing is they approached me about buying the house before I even thought of selling it. They planted the seed in my head that I should pack up and buy something smaller. And I did, with no regrets. It was a FSBO. No broker fees.
My house is a 690 square-foot Craftsman built in 1900 I live in a lower middle-class neighborhood. In other words, nothing fancy. So when I did updates in my house, I didn’t go overboard. Mostly because my budget wouldn’t allow it, but also because the neighborhood would not support it so to speak. So now everything is updated. Cl we did completely got the bathroom and the kitchen and updated them. But not fancy, I did not put in the quartz countertops. I did not put in real hardwood floors. But that’s OK. And I painted all the rooms in my house bright vibrant colors. I love it.
I’m glad you included the timeline someone plans on living in their home. I chose paint colors for myself. I had to explain to my sister I don’t plan to sell in the next 5 -10 years, so I’m creating the house I want to live in and love. Not for some other hypothetical buyer in the future. This is a very useful video, glad you examine the math involved.
So glad the information was helpful!
I've sold 5 homes without realtors on my own and I know a thing of two. One the pool thing is a mixed bag, while it does push away buyers who don't want a pool or are scared of the maintenance it also attracts buyers who specifically want a pool, and ones that are willing to pay a significant premium for a home with a pool and are willing to pass up other options that are in better locations, etc. So yes it can push some away, but it can also be a huge decision maker for some. The key is to list it VERY clearly on websites and in the listing that it has a pool to not attract the wrong buyers in the first place.
I see your point, but you could kind of say that about any property feature. What is a big selling point to someone is a hard no to another.
It also depends on where you live. We're in Texas so a pool is a big bonus since it can be used most of the year.
@@jenniferwells2291 yes! I'd love a pool right now 😍
@@jenniferwells2291 100 percent.Here in the midwest you're luck to get 3 months out of them realistically, what you account for rain. I would love a small one at my own place just to float around in, but it's just north worth it to me for that short of period.
I'm in Florida and many people have pools. I'm still debating whether to add one on my property. But I'm the type that looks at property for sale all the time. I am convinced that I will not buy another house in Florida unless I have a pool. The length of time and disruption of putting one in is too much at this point. But if I were to move, I would only consider a house that has a pool.
Wonderful advice I must say we were so blessed that we sold our home which had salt water in-ground pool n Jacuzzi n landing with bubblers for young children enclosed fenced yard,cameras system, screened garage ,gutters, wrap around driveway we redid the pantry ,butler in master, plus some upgrades when we purchased the home n we got it all back including the sale of home and paid off our mortgage n a profit ....So happy we blessed someone else all they had to do was turn key n enjoy life
I’m in Alabama and I have a rule: I will never ever move into a home without a sun room. It’s too hot here to enjoy the outside from May to October.
@@mistylee717 yeah in the a north I hate the insects! Need a sunroom to enjoy outside in peace. Wasp, flies and mosquitoes are A**holes. They don’t respect you.
When we were looking for a house last year, anything that required my phone to use (smart lighting, thermostat, etc) immediately made it a “no” for me.
@@js6872 Are you over 50?
@js6872 I did not disclose that information with my buyer, but it's a bonus for people my age.
We purchased (not leased) a solar panel system in 2020. It was one of the best decisions that we've ever made. For example, Duke Energy is currently requesting a 26% rate hike in my state.
Never lease solar panels.
@@celieboo …My neighbors solar panels caught fire and burned his roof to the point that he needs it replaced.
My #1 rule which I would never dream to break: never, never, never barrow against the equity of your home!
@@francescotenti193 idk my husband decided to refi cash out to build a pool. He did it so our monthly payment was the same (got lucky with improvement on interest rate). Pool added a bunch of value to the house and we still have about 75% equity (25% LTV).
@@francescotenti193 I did several times and on several homes. Just depends on how good one is with money in general. Each was a temporary situation and was not intended to take years but only months.
It's your rule, but using equity to improve your property or another property can be a smart investment. Just make sure you can afford the increased mortgage payment.
Or....if you like it, do it. That's how I feel about a home.
Live for the moment and do what makes you feel good about your home ❤
Thanks for watching!
Thank you for being honest about solar panels
Appreciate your feedback - thanks for watching!
Simple common sense. Solar is one home improvement for which the return on investment can be calculated in advance. If you plan to sell before the payback, don't do it. If you can't pay cash, don't do it. Never, never, never lease.
We installed our own No regrets But we got the tax breaks And I use my ovens all day baking for a cottage bakery I run out of my home So our payback is a little sooner. It makes more power than we use most days but we don’t sell to elec grid. We have the system that can supply power even when grid is down which is our desire since we want power always to our freezers and walk ins
Paint - its called Kilz and Neutral paint not that big of a deal. Wallpaper is just evil and expensive to remove sometimes
I heard an amazing story about story about custom paint colors.
My friend's aunt had lived for a couple of decades in Peru. She ended up returning to Canada, and bought a home. The previous owner had painted a feature wall in each room. The feature walls were all solid, intense colors that would be extremely difficult to cover with new paint. There was even a solid black wall. (This was back in the 80s, so I'm not sure what products would have been available at that time to deal with this.)
Aunt calls her sister, my friend's mom, to come and help her. My friend's mom was a wizard and really should have been a professional decorator. Mom ends up going through her sister's artwork from Peru, and decides there isn't any need to repaint! Peruvian art is generally colorful and primary colors, which went with the primary colors of the walls. She helps her sister arrange her Peruvian treasures to showcase them to advantage. My friend said it was amazing, and she loved to go over to visit and admire.
Of course this isn't going to work for everybody. But it goes to show that there are solutions that can work depending on your situation.
The previous owner of my house painted all the niches and accent walls in catsup red. It took 3 coats of paint to cover them.
@@ChicaG-vg7pj prime and paint that's it.
@@sparksmcgee6641 I would imagine that paint formulations have changed a lot over the years. At that time, that didn't work. I knew a family that bought a home where the kitchen cabinets were painted dark red. They tried to paint over, and red bled through. They ended up refinishing the wood, and starting from scratch.
@ChicaG-vg7pj yeah the last 20 years has been amazing for paint.
Great video. But I think you're assumptions on residential solar are about 7-10 years out of date. Especially in the sunnier areas of the country. Also keep in mind the cost of solar has decreased by ~21%, every two years, since the 1970s. So even if your solar info is "just a few years" out of date, then it can be far different than today's reality.
I live in an old house, in a neighbourhood that is actively gentrifying. Our house will be knocked down when we sell.
Bear that issue in mind when you're thinking of changes as an investment.
By the time you start saving on energy after installing solar panels would be about 20 years. Dumbest technology ever added to a home.
Stop exaggerating
@kingyos6710 sadly the solar industry has become a rip off. When solar first came out they were cost effective but not anymore.
Don't forget to put the solar on when the new roof goes on
New technology they are working on, no more panels but solar built into your roof shingles.
@@janiceestes9518 What you're talking about are the Tesla tiles. Installation cost is greater and so are the tiles. The replacement costs are greater too, not to forget about the batteries as well. There are no savings and the environmental cost will be damaging. Look up what is required to recycle batteries, Solar panels, and old wind generators. Then, look up the environmental damage these "green" inventions create. Scary. You're living in La La Land. Time to wake up.
We almost didn't buy our house because it had a huge pool. We ended up buying the house, and we covered up. That was the best decision ever.
Dumb
@@jayc4715 , why? Not everyone wants a pool. Everyone I know who has one no longer uses it but still has to pay a lot of money a year to maintain it.
Pools and hot tubs should always top the list. Hot tubs less so, but if you have decks or property features built around them, it can be a problem. Pools are work, money, and a liability. I would suspect half of all potential buyers don't want one for various reasons.
I live in metro Atlanta and pools are very dumb IMHO. I have known several people to have them and they are too much work to really be worth it. On top of that you can buy a membership to most clubs for $1000 a year and have access to a pool much cheaper, but also have no work or money you need to sink into it.
@@jayc4715 A leading cause of child mortality in the 7 and under category is DROWNING. No body of water will be around my property until my kids are old enough to stay at home by themselves and are strong swimmers. Period. You can do what you want, other people have valid wants and concerns even if you don’t share them.
So right about pools and pit patios, Jen. A neighbor here in S Delaware had to FILL IN his pool to close the buyer. They didn't care that it also had the grill and party pit. Ouch. $85,000 + 4,500 a year is a lot of $$ per dip. Gardens too...a friend finally withdrew her home because her lovely gardens with 23 separate sprinkler shutoffs was too scary for several qualified buyers who would have bought without all that. My technophobe spouse hates smart lights. I love them. Fortunately we're not selling :)
One thing I learned when it comes to renovations, spend the extra money in hiring good, licensed contractors and getting proper permits. We added a huge deck that was partially built over a septic system even though we placed an access door to get to the septic system. Also, built a double garage without a permit. When we sold the house, we gave an allowance to the buyers to bring the deck up to code so we lost money. The irony in it all, the deck and the garage is what the sold the house.
if you’re deterred by paint color, you shouldn’t be in the market for buying a house
Excellent advice and loved the moment of clarity at the end. It is not an investment- enjoy the home you live in. So many of us get confused on that simple fact.
Appreciate you watching - thanks for the feedback!
Great content, I'm happy you stated not to finance home renovations. IMO its better to pay off that mortgage first than cash flow those renovations 😊
Thanks for watching!
This is stellar content! Super practical, actionable and intelligent. I'm a first-time homebuyer with a strong finance background but zero real estate experience. This really jives with the way I use my finance chops to make sense of unfamiliar real estate decisions. Can't wait to see what other content you put out!
So glad you found it helpful!
Just saw this open house that had a pool and the biggest outdoor kitchen I’ve ever seen it was larger than the one indoor seems the owner has a boat and they cook the catch by the pool. The backyard with the pool is larger than the house itself.
Ive been toying with a move after retirement and looking at homes. Came across a gorgeous home that was laid out beautifully. BUT outside of the kitchen/living area, EVERY wall was painted pepto-bismal pink! Sure it's just paint, but the house has vaulted ceilings and the cash register just clicks away in my head as to how much it's gonna cost to re-paint the interior of that house. I'm betting that before it sells, the seller, will be re-painting the inside! Im soooo not a fan of a different color for every room. IMO, folks should paint walls a neutral color before putting on the market!
Depending on the regional market, whole house painting can come in at $5-10k !!!!
Jen, another GREAT video and thanks for sharing your words of wisdom! I am NOT a fan of solar panels for so many reasons and pigeons LOVE them for shade which can create roof rot issues. I ripped out the old carpet in the bedrooms and was not sure what flooring I will put in but you made some GREAT points about that in this video.
Thanks for watching - so glad you found value in the content!!
@@savvyhomeseller Jen, there are tons of people on TH-cam sharing their real estate tips but you, Audra Lambert and Albert Finney are my favorites as you share your most valuable real estate information with consumers. Thanks for your help and keep up your fine work in your videos. 😎
🤗Upstate NY Home Owner Here ... Thinking Of Selling within the next year...
And Your☺️ information 🤗 Excellent!!!👏🏿👏🏿👏🏿👍🏿👍🏿
Appreciate the feedback - thanks for watching!
I sold my last house based on my front porch alone. People like a nice front porch for some reason
I have pools never ever want another. I guess because I'm from Florida.
You do the improvements for yourself not anyone else. My neighbor sold their home..The house was dated nothing special..it however was very clean and the outside nicely manicured..He got his asking price of $603,000. The new owners ripped out the whole house and made it their own.
If your property is in Florida or California a pool is a definite added value. Anywhere else it's questionable. Except maybe very high end coastal areas. Rule of thumb, if all the neighbors have a pool go for it.
As per wall paint colors. It’s just paint, it’s an easy fix. If the buyer loves the property but dislike the wall colors. If they decline the purchase because of paint color seems petty. That says to me they are not truly serious about the house. If the structure is sound, the land maintained, the neighborhood decent, property tax is afforadable, appliances still have many years in them, and the buyer whines about the wall color and flooring, they need to move on. They are the kind of person who will always find something to complain about. You can’t please all the people all the time, and they are not worth your time. The bottom line? There will always be a buyer for your home, no matter what condition it is in, or what colors the walls are painted.
Walls and ceilings yes, but timber trims / doors are time consuming to prepare and repaint. Best to keep those neutral.
I hate solar panels. won't even look at houses with them on. Now paint color I dont care about, it's paint. you can paint over it. Wallpaper... i'd better get a reduction for the cost of removing it. Agree with the garage, need them for my cars.
Every house needs: More than two bedrooms, more than one bathroom, more than one car garage.
Just depends. My family of 3 bought our first house, 2bd 1ba, in 2020 for $87k and it has served us just fine. A 3bd 2ba in the same area starts at $200k. For our family, a smaller house fits our needs and desires better. Larger families, maybe a 3bd 2ba is the bare minimum.
@@mabybee When I was born, my family of 11 lived in a two bedroom house with only one toilet. We had an extra shower in the basement for the boys and extra sink in the attic for the girls lol.
When it comes to selling now, and for the foreseeable future, you really don't have to appeal to the masses, or anyone. Even the crappiest homes are being snapped up with no improvements done at all; this is going to continue, if not get worse, for the next decade. So my advice, don't go wild, but make your house your home. Enjoy it. The days when we just willy-nilly buy a new house every 15 years is done anyway. You want the pond and you can afford it, get the pond. You want the garden, and can afford the garden, get the garden. When you do sell, if and when it comes time, there will be plenty of people wanting what you have, because surplus housing is negligible.
Great advice! Thank you for the video!
Thanks for watching!
She is right about solar panels. I installed them on a new home we thought would live longer and we were moved after 4 years I had to pay for them and the lien on the house was a headache. Not to mention I got zero return on those
8:10 My daughter painted her entire house in BOLD primary colors. The living room had one red wall, one yellow, one blue, and one orange. I'm talking Crayon colors. It looked like a primary school.
When I've looked to buy, I've never taken colors into account. It's just paint and I'll want to choose my own to freshen the place up, anyway. But it didn't go like that for her. She ended up having to throw in the cost of painting the house in order to close. That meant a professional painter and that wasn't cheap.
I do have to say, I warned her. Had she done the work herself before listing it would've cost a fraction of what it did.
Ordinarily paint colour would not bother me because I repaint any house I buy. However, very bold primary colours can be a nightmare to cover even with the best of primers....so yes....don't do it.
Thanks for sharing I think a clean refreshed home sale faster than untidy, dirty, unkept homes period. As far as any upgrades I think they’re great but not if it’s added to the sales price of the home and one is trying to sale there home for more than any house in the neighborhood in order to recoup the money that you spent making the upgrades. Paint, repairing any damage to your home and cleaning inside and out goes a long way. Smart homes just mean added upkeep for most older buyers. As for as solar I don’t think you ever get your money back or safe if you are the one installing unless you’re a very young family buying your forever home. As an older adult I don’t qualify solar because I have whole house fans in the attic and painted with cool colors I also insulated all my interior walls and stone on floors which believe me works better than solar. Thirty five hundred square-foot home never had a utility bill over $40.00 in the summer months and I live in the low desert in southern Cali so 110 today I feel very cool inside at 70 degrees. I can’t wait for my senior discount to come in play. I really think it’s the insulation that keeps my house cool in the winter and warm in the winter. Everyone thinks I have a very quiet AC but I have never used it in the 15 years that I’ve lived here in-fact I wouldn’t know how to turn it on if I needed to 😅
VERY valid points here! I, personally, NEVER understood buyers complaining about the paint colors in a home. UNLESS MULTIPLE rooms are painted in some off-the-wall color (see what I did there?), the buyers should just work that into their diy plans for the property! One or two rooms painted in a shade of grey that you don't like is NOT a good reason to turn down a home, nor is it a good reason to get into a haggling war, in my opinion.
I got fed up with the tv programs of realtor taking buyers on house hunting expeditions and buyers unable to see beyond paint or carpet colors to see how good the houses and properties were. Eventually the rooms need to be painted and carpets replaced anyway.
@@PAHighlander24 I agree with you!
I know! Every home I've bought (5), I repainted and unless hardwood was in place, the flooring was changed as well. It's part of moving in.....
@@l.5832 we are definitely in agreement!
I love the green energy earth saving comments…then she says but you have to be practical lol.
My rule for swimming pools is buy a house with a pool, never ever build a pool because you will lose the majority of the money spent on it. My home is valued about 5-10% more than the houses in my area because of my swimming pool, but I didn’t build the pool so it’s good for me.
If you're comparing two identical tract houses and one has a pool and one does not, ok.
But that is very situational. We got super lucky on our current house. It has probably in the top 5% best views in our city. My husband refi'd taking money out to get a $50k pool. Because of more favorable int rates, our monthly payment was the same. And we currently have over 80% equity in the house.
I am so thankful that we didn't get a worse house just because it had a pool.
And a lot of the pools in our area are older. We got to pick everything on the pool which was great.
I think it just shows that any advice in general is just something to consider. Having it as an actual rule with no exceptions would be silly.
In our case not getting our current house would have been a huge mistake.
We're thinking of moving to a different climate and everyone is like why would you want to give up your house?
i just spent 11 minutes watching this at work and regret nothing. i watch a ton of realtor videos in my line of work and this is exceptional work. so informative and such great delivery. let me know if you ever need any freelance work done!
I’m glad you ended on the note you did. We chose a home that we want to live in, enjoy life, and hopefully pass down to our children. Other properties will serve as investments, and your advice is solid for those, especially things like solar panels and highly customized features. For a primary home, I like to prioritize happiness and personal preferences over ROI, but still agree on things like intense paint colors and carpet 😅
This was a good watch. Thank you for sharing.
Thanks for watching!
Why do people commit to 25-30 years paying a loan?
That is so risky.
Job security
Business security
Health
So many problems can go wrong in 30 years.
Everyday you wake up, cloud of debt. By the time you paid of your house you have aged ready for retirement.
Only for your kids to fight over the house if you pass on.
The idea was buy a home, family values etc. But for burden and stress. Its not worth it.
So what should people do instead of getting a mortgage?
Anything NEW, "luxury", and "trendy" is hot garbage. Put in what is classic and timeless, not "in style". Quit thinking ROI and be happy. YOU ARE NOT SEELING TO "every buyer"-just ONE!
I agree with mostly items listed, but.... it is your home. You have to live and use your money to make YOUR home, nit for someone's else. Life is expensive. If following this logic of spending thinking of return on "investment," then why travel, why buying quality of food and cloth, why have borthdays etc... it will never return your investments into these evens and things... it is YOUR home! Enjoy it now, otherwise yiu will spend your savings on nursing home and medicine and its tastless food without any good memories of quality of life you had.
I will definitely replace carpet with carpet. Nothing, NOTHING is worse then that god awful vinyl plank flooring. Nothing.
Solar does improve the value of a home.
I'm from West LA so swimming pools are pretty common. After seeing it really not be used so much as the kids get older - it's such a waste of time and money. Plus in West L.A. you can just head to the beach, public swimming, hotel pools or go to a friend's home, so I don't see any reason why people who don't have kids and need to penny pinch would ever consider a pool.
This video should be retitled "How to live in the most boring house possible because one of these days you might want to sell it" Imagine using the mindset presented here in applying to other aspects of life. Think about how boring clothing and food and cars would be... Or art! I'm sorry Mr Monet, that impression stuff does not cater to the widest possible group of buyers.
This is terrible advice.
But, what if we simply want it? Must everything be about someone else?
I definitely agree with the combining of rooms. The house across the street from me they took out part of a laundry room and dining room to add to bedroom and bathroom to a home that's pretty small. They did a major upgrade to the original bathroom. It didn't sell(owner was probably out of town). They ended up just making it a rental, but people never stayed long because even the rent was high for the neighborhood. You probably could take that same house and put in one of the poorer neighborhoods and no one would be able to tell the difference other than bathroom upgrade and the fact it probably has an extra bedroom and bathroom compared to others. I guess they really thought another bedroom and bathroom was going to make a huge difference. People care about rooms, but they also care about square footage and the outside look of the home
The best investment for your home is installing a Toto bidet. For a few hundred bucks it is very awesome 😂
I am from MA but now live in the south. I bought my new home a ranch with 2200 square feet. Nice home, but now I had custom closets all installed. Everyone who comes to my home say they want them in their home. I have a lot of usable well-designed closets. What do you think on the return if I ever need to sell? I know it will be a great selling aspect but concern about the return value.
Hard to say - but custom closets TYPICALLY don't add a lot of monetary value. However, they could very well help the house sell faster.
Well, the wives or women will be VERY pleased! Men could care less, unless gay lol. I worked for an Historical Preservationist/Remodeling/ Dangerous Materials business. I learned a lot! Even today some items may become ‘banned’. As time and trends move along DO remove any and all carpet-it harbors the very WORST health issues period. Not to mention the chemicals used to keep them ‘stain free’ dog and kid friendly IS NOT! Research is necessary. Thank you for great info!🙏🏻🤔
Solar Panels are cheap, installation is 2-5x times of equipment cost. Even if panels cost $0, it will still take years to break even.
Any upgrade is worth it if you are doing it for you and your family. Just don't expect to earn the money back if/when you sell.
Renovations should be things that add value. New windows, doors, and flooring, ect...
Solar Panels are not for me. They look unnatural and idk if they will always be so big as time goes by. I would never buy a house with them.
A rotating circular waterbed is way overrated, as well. Unfortunately, I learned the hardway, when selling my condo.
@@jayp4114 Austin powers
I believe the smart technology tip works for anyone, staying or selling. It always amazes me how people see game systems updated and made obsolete all the time, be surprised when their smart technology becomes obsolete.
short, simple, and right to the point. Thank you
Thanks for watching!
Your suggestions are so much better than most realtors - maybe because you are in the northeast, too, whereas others are in the west, south, etc. I appreciate this because I'm moving into a house that I am not sure how long I'll be staying. I tried to sell it last year with no luck - so I do plan to do a few things to make it a bit more marketable in case I decide to list again.
I really appreciate the feedback - thanks for tuning in!
It seems that for Americans everything is transactional. Everything is about money and earning (more of) it. In this video it starts already by talking about property instead of your house or home. Sure, when you plan to sell your house in the near future, you should be cautious on where to spend money on it; most expenses are not great investments. But when it is your home to keep for years, update/renovate what makes your life better. Quality of life counts!
Very well stated!
Americans do indeed tend to view everything excessively as dollar signs.
I agree 👍
Building a kitchen outdoor right now. Bbq & griddle. It will be glorious. Saved money cause I did the research and acquired the appliances myself. Got a contractor simply for the labor.
The labor is the most expensive part usually! My kitchen wasn't large. The quote for vinyl plank flooring installation was 10 k dollars! I was like, WHAAAT?!
It was the cost of the vinyl flooring and the ridiculous hourly rate!
I am studying right now to diy things. It is so much cheaper!
I’m doing an outdoor kitchen now. I had to add concrete to expand the area and an entire wall to block the wind. I did 3 big windows and matched the exterior stucco to match the house- I’m SURE I’ll enjoy it and it makes my cooking area so much bigger
What are you thinking about updating in your home in the near future?
I need a new roof, drywall work, and some flooring work in the bedrooms along with other cosmetic things before I list my home in the near future. I plan to sell "As-Is" but will consult with a realtor here before I make my final decisions on how I will sell my home since I do not want to major renovations on the kitchen and bathrooms.
I’m thinking about adding vinyl fencing in my backyard to replace a chain link fence. I also live in the northeast.
@@suehanchard5582 Vinyl fencing is NOT cheap to install and the UV rays of the sun in time really take a toll on exterior vinyl fencing with the oxidation. Best to do research on this type of fencing before spending the money on it. And if you do decide to install it, get someone licensed, bonded and insured who knows how to install this type of fence the right way. Referrals from family and friends of reliable contractors to get bids from DO help a lot. And Jen can answer your question the best about if installing this type of fencing will really add value or not to your property. Best wishes on what you decide!
My backyard & basement.
Getting ready to replace the old flooring with luxury vinyl. It's the right choice for the home.
I wish I could do something to make the bathtub area safer with something like a walk-in tub, but this is so expensive. I wish we could just put a shower stall where the tub is now, but I hear that actually hurts home value. Guess I'll keep hoping no bad falls happen! As to garage conversions, I see that a lot in an area near me where owners have turned a one-car garage into a room of some sort. The car is relegated to sitting outside...unsecured...in all sorts of winter weather. I think this seriously hurts the marketability of these homes.
Pools are way more expensive today than they were 5 years ago. That theory may have been true pre-covid, but I've seen (also in the NorthEast) homes sell for way more than they should because buyer's knew it was not only 2x or more expensive to install today, but also that it could take a year or two to get a reputable builder to put one in.
Totally agree about the sun room. I live on the west coast of Canada, so the winters are mild, but it was far too cold out there in the winter, but in the summer it was way too hot to be out there past 10am. So there was really a limited number of months that the room was usable. The cats liked it, though. Every home I ever bought I repainted. you pretty much have to if the former owners hung any pictures, I when I am viewing a home I completely disregard any colour schemes on the walls because it's a given that will be changed.
Good info re carpet and bathroom updates. We have carpet throughout, and I want it gone. Our 3rd bedroom is storage and aspace for the cat litterbox. We had a dog, and she tore through the carpet and peed on it, so it was removed. New hardwood or laminate floors will improve the issues around allergies as we have a cat (not allergic), and I'm tired of the hair and other things that go along with owning that creature!!.
Man, dont listrn to these videis. Do what you want that mskes you happy. Enough people listen then it becomes law. Its not always about money, especially if you have it
I’m surprised at how many people think they should make a huge profit on the sale of their house when they have not lived there very long at all. We do things to our home because we want to, without any expectation of getting the money back.
I think your advice is really good and agree on all points. I have an 1800’s 8 bedroom house in the northeast and made sure the exterior is perfect but the interior still needs a little help which I am working on. The yard is large but I keep it easy to maintain.
I’m not sure I follow the logic of not using a HELOC for improvements. As long as you don’t over leverage the house, it may be fine. A good tax deduction and you can make more by investing your savings instead of using it for the improvement
Interesting about sunrooms - I think I would love it but I guess you're saying it's too iffy
In this video I'm focusing on the updates that directly add dollar value. Sunrooms don't always add monetary value - but they often add desirability to a home. If you have a sunroom - enjoy it ! But if you're thinking about selling, I wouldn't add one. Appreciate you being here!
Excellent information. Thanks
We are getting ready to install a whole house generator. 15,000, your expertise Jen?
Depends on where you live - you could get a high return on your investment.
Great stuff Jen. I work in the solar industry and need to let you know that your statement about “less of a credit with the electric company” is incorrect. Most utilities don’t differentiate your net metering credits based on whether you own or lease panels. The only “credit” differences are the incentive programs offered to subsidize the cost of the solar. It’s an easy confusion.
Thank you, Jen.
Great video, very informative.
I'll refer to the notes I took when I speak with my designer, my realtor, and my financial advisor!
Solar Panel ROI is also affected by the power companies pricing tiers, which changes to may adversely impact your forecasted ROI. You also have to opt-in for example in CA for solar panel tier pricing!
Updating just one bathroom may very well help to sell. It's some work already done for the buyer that they don't need to do.
Yeah, cash would be wonderful. But I didn’t have that much cash. I did take out a heloc to update my house. I was able to pay as I went for the two bedrooms and the living room. And the laundry room. But once we got to the kitchen and the bathroom, that’s when debt started.
In ground pools don't add value? Im in Massachusetts and I i think they do
They add some value, but the monetary value is less than the cost. In the northeast the pool season is very short, which reduces the value.
Hello thanks for the informative video.
Is the inverse true when combining rooms.
If you were to make a 1 bedroom into two would that work?
Never ever tie anything to your 🏡 home. Never
Did you notice that big companies are now buying up all the land and building homes for rent? Next generation if they don't inherit a home they will only rent because of the high cost of living.