Home Improvement Projects that Pay Off (And Some that Don’t)

Shannon Quinn - November 9, 2022
You won’t get much back on your investment if you install a pool. Credit: Shutterstock

DON’T: Add a Pool

For a lot of people, installing a pool in their backyard is a bucket-list dream for their home. It’s amazing to be able to go in your own backyard in the summertime and cool off by swimming in a pool. And it will surely make you popular with your neighbors, friends, and family. According to Forbes, the average in-ground pool costs $35,000, but the price changes depending on the size and what kinds of add-ons you include, like a hot tub. Many future home buyers will see having a private pool as a huge selling point, especially after the pandemic. People really appreciate their outdoor spaces more than ever, and are willing to pay more for a home that offers them a great backyard. According to Forbes, you will only get a 50% return on investment if you install a pool. If you calculate the amount of time you and your kids spend in the pool each year, plus the added cost of annual upkeep, it becomes a very expensive luxury to have. You might be better off paying for a gym membership or local swim club instead. (via Forbes)

Having a deck or patio is always a good home improvement project. Credit: Shutterstock

DO: Add or Repair Your Deck or Patio

Now more than ever, people truly value having a deck or patio attached to their house. During the pandemic, a lot of people switched to having outdoor gatherings with friends rather than inviting them inside. Even though things have gotten a lot better now, it’s still something on every homebuyer’s mind. If you already have a deck or patio, it may only cost a couple hundred dollars to do repairs, paint, or upgrade. But the cost of building a porch can be anywhere from $2,000 up to $22,000 depending on the size and materials used. According to Forbes, you can get back a 66% return on investment. That’s not bad, considering that it will seriously add a lot to your curb appeal and make it easier to sell the home one day. (via Homes)

The trendier something is, the faster is will go out of style. Credit: Shutterstock

DON’T: Install Expensive Trendy Fixtures

Earlier on this list, we already mentioned that you should steer clear of installing expensive light fixtures. But this advice goes for any and all fixtures in your home that could be considered “trendy”. For example, a couple years ago, Joanna Gaines made “Farmhouse” decor incredibly popular. It was a huge trend for several years, and it extended even into faucets and fixtures in people’s homes. Now, though, even Joanna Gaines herself is tired of the country farmhouse vibe, and has moved on to different styles in her new season of “Fixer Upper”. Think about all of the outdated bathrooms and kitchens that are totally identifiable as being from the 1980’s. Your own house is going to look like that to future buyers if you strictly follow trends. (via HGTV)

People love to have outdoor living spaces to entertain guests. Credit: Shutterstock

DO: Spruce Up Your Outdoor Living Space

Ever since the start of the pandemic, people value outdoor living space more than ever before. Instead of letting friends and family inside of their house, it has become more common for people to sit outside in the open air. We’re not saying that you need to invest tens of thousands of dollars to give yourself a luxury backyard. But it’s a great investment to figure out some kind of outdoor seating situation, even if you just start with a set of patio furniture. Of course, investing in bigger projects like a porch or a patio will give you a decent ROI. (via Forbes)

Adding a sunroom might not pay off in the end. Credit: Shutterstock

DON’T: Add a Sunroom

A lot of people love the idea of having a sunroom, because it’s a combination of both indoor and outdoor space. They’re very popular in states like Florida where it’s warm all year long. You can enjoy the sun without getting attacked by bugs. And it’s a great place to keep your indoor plants. The bad news is that it’s not exactly a good investment for you to build one. According to HomeAdvisor, it costs an average of $30,000 to build a sunroom addition. However, Forbes claims that it doesn’t count towards the total square footage of the home, therefore it doesn’t add any extra value. This may change state-by-state. The ROI also seems to change depending on where you live. It’s as low as 50% all the way up to 80%. (via US News)