NEW YORK – These are tough times for home sellers. If you're one of them, it can be tempting to launch into a series of home renovations to make your home more desirable.
But be discerning about your choices — certain renovations can actually decrease the value of your home. Money magazine suggests avoiding these four renovations at all costs:
A swimming pool. If you don't know this already, a swimming pool is a liability, not an asset. (Unless you live in a hot climate; in the Southwest, a pool can increase a home's value by 11 percent.) But if your home is in Oregon or Illinois, the cost of insurance and pool maintenance is a buyer turn-off. Families with small children especially avoid homes with pools.
Home addition. Sure, an addition to your home will add inside space. But how will it look from the outside? Many home additions can look boxy or unnatural with the rest of the house. If you do go for an addition, make sure it is well designed.
Trendy finishes. Don't fall for the latest style or trend when it comes to renovating. As soon as it's out of style, it will stick out — and look bad. One trend that will probably last for a while is custom paneling in maple or mahogany for home appliances. Otherwise, stick to timeless, classic renovations.
A Jacuzzi. Nothing beats a good soak after a long day. But not everyone loves a giant tub with multiple jets. Instead, try a rain showerhead if you want to add some luxury to a bathroom.
Copyright (c) 2007 MarketWatch, Inc.
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