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5 Home Renovation Projects That Don’t Pay

Blog by Claire LeLacheur | September 7th, 2010

Before you go and start investing huge amounts of money to make that new home of yours the best on the block and the envy of all the neighbors including the Jones’s think about your renovation and whether or not you might be able to recoup the costs of that reno, and whether it will be good for the re sale value of your home. We all know the best time to think about selling is when you are buying.

Here is a list of my personal over the top renos that just don’t make any sense.

 1. Pool – in most cases families with smaller children will shy away from a house with a pool. They are largely regarded as expensive to keep up, expensive to heat during our North West winters and a danger for small children. Not to mention that average size of a Vancouver lot is smaller then the rest of the world. Why would you want to fill a 33x122 foot lot with a pool?

 2.Replacing a popular feature – it may be great to turn your garage into a games room, or a man cave for the boys to hang out on Saturday night. But if you are the only house on the block without a 2 car garage, you might want to think twice. Most people like the relative safety and security of locking their car in the garage at night.

 3. Daring design – most home Buyers these days like the neutral color palette.  It is easier for them to place their own furniture into the space, as it is probably what they have on their own walls. If you have a great need to showcase your design know how with odd primary paint colors, outdated floral wall paper and loud shag carpeting, you might be shooting yourself in the foot.

 4. Over the top improvements – while you do want your home to stick out in the eyes of the Buyer, you don’t want to over do the renovations to the point where it will take you 70 years to make back the money. Stick with the finishing’s that are in line with the genre of the home you just bought and your buyer who will be making that purchase.

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