As you prepare to sell your home, you may be considering investing into the home to appeal to more potential buyers or to increase the sale value of the home. Generally, the highest rate of return is in upgrading the kitchen or bathroom, but what about the other appealing upgrades that are being shared all throughout Pinterest?
Below we have listed the popular upgrades that have the lowest rate of return on your investment:
Home Office: While home offices have gained popularity due to the technological advancements that allow us to telecommute for work, Remodeling Magazine discovered that investing in adding a home office averages about $28,000, but when selling the home they recover less than half of their investment. This is likely because while having a dedicated home office is enjoyable, it’s not a necessity and is likely not the main feature buyers are looking for.
Upscale Garage: Converting a regular garage to an upscale one can easily cost over $75,000, but they offer very little return on investment. Forego the expensive lighting and floor finish, for less costly ones.
Large Generator: In Florida, investing in a back-up power generator for the home seems like a no-brainer, but studies have shown that sellers are likely to only recover about half of their investment. A back-up generator can cost up to $15,000, and it can be helpful in the event of a hurricane or severe weather conditions, but it’s best to not invest in one if you’re planning to sell soon.