5 Home Improvement Investments to Avoid this Year
While we're always encouraging Fort Wayne homeowners to make improvements throughout the year, the reality is that not all upgrades will give you the same return on investment. If you plan on selling your home or you simply want to increase its value, there are certain upgrades where you should steer clear and choose a better option.
As an effort to save you from spending a significant amount of money that won't pay off in the long run, these are the 5 home improvement investments that you need to avoid in 2017:
5. Master Suite Addition
Do you love the idea of a big, beautiful master suite? There's no denying that this upgrade sounds attractive and alluring, but you might want to think twice. A master suite addition at a midrange level is quite expensive. In fact, it will cost homeowners around $120,000â€”and that's not even using the best materials available. You'll find that your investment will offer around 65% return on investment this year.
4. Backyard Patio
So much for those bonfires this summer. While a backyard patio might sound like the perfect spot to enjoy cool summer nights, it might not be the best choice for your pocketbook. A midrange backyard patio will cost you $51,000 and yield a 54% return on investment.
3. Bathroom Remodel
The bad news for Fort Wayne homeowners this year is that there just isn't much money with bathroom upgrades and remodels. Remodeling your bathroom on an upscale level will set you back almost $60,000 with a 57% return on investment.
2. Bathroom Addition
Even though most of us would enjoy another bathroom in our home, this might not be the best area to invest your home improvement dollars this year. According to the Cost vs. Value 2017 by Remodeling Magazine, an upscale bathroom addition offers the lowest return on investment for your money. You can expect to spend around $80,000 for this upgrade and receive a 56% ROI.
1. Making Upgrades with Cheap Materials
Regardless of the home improvement that you decide to make this year, be sure that you don't renovate with cheap materials. Poor quality materials only downgrade your investment and leave it susceptible to a variety of issues. Even cheap paint can peel away after a short period of timeâ€”imagine what will happen if you choose to install windows with low quality vinyl.
Not all building materials are created equal. From kitchens to vinyl siding, take the time to carefully select quality material for your next home improvement project.
The good news is that exterior renovations are thriving in terms of ROI. A new fiberglass front door has nearly a 78% return on investment, while vinyl replacement windows are at 74%. Contact us to learn more about investing in your home this year.