32 home upgrades that are a huge waste of money

Unless you’re in a rural area or a location that experiences power outages, a back-up generator isn’t going to wow the socks off home buyers. Graboyes says this home upgrade is pricey and but doesn’t generate a lot of cash for the investment you make.

Built-in fish aquariums and hot tubs are unique items that may deliver personal joy, but they also require a lot of maintenance and may not tickle a buyer’s fancy. “More often in real estate transactions, a specialty built-in becomes a hindrance to the sales opportunity,” says Graboyes.

Your commitment to fitness is stellar but converting your garage into a gym is more an exercise of sweat equity than home upgrade value. “Most buyers want their garage available for cars, not gym equipment. Before finishing a garage with gym equipment, flooring, electrics, plumbing and heating, take your gym to the attic or basement,” advises Graboyes.

Your home should reflect who you are, but if you’re not going to live there forever and plan to sell it someday, steer clear of personal and custom renovations, like a yoga and meditation studio or a wine cellar. “Buyers are looking at the home as their own and they do not want to have to do more renovations. Keep your renovations clean and simple,” recommends Justin Krzyston, contractor, designer and owner of Stonehurst Construction.

Saunas, steam showers, and heated floors and towel bars are creature comforts we love, but usually, it’s money down the drain for these home upgrades. “Unfortunately they won’t bring back money when you go to sell your home. These upgrades are costly and a little too personal to the current homeowner,” says Krzyston.

Expensive sound systems, high-end pool lights, or showy DIY home upgrades like LED shower heads and toilets aren’t likely to add any real value to your home. “They are fun upgrades, but they are so costly to install and won’t add a significant resale value,” says Krzyston.

“Instead of installing brand new wall-to-wall carpeting before you sell your home, just spend the money to get it cleaned,” suggests Krzyston. Even luxurious blends could be seen as a deterrent to home buyers because of allergies or high maintenance. “Chances are that the buyer doesn’t want carpeting or they don’t like your choice of carpet, so let them choose what they want and they can spend the money to install carpeting,” says Krzyston.

A favourite of cheap DIY home upgrades but won’t fire-up the value of your home. “Homeowners shouldn’t spend money on renovating their mantles or adding built-in bookshelves on the sides of their fireplace. Instead, make sure they get their fireplace inspected. Cracks in the fireplace can scare buyers away, so make sure the inside of the fireplace is seller ready,” says Krzyston. Find out which 13 home improvement projects practically pay for themselves.

If you live in an older home that was built before the advent of master suites, you may be tempted to add value by building a master bedroom to compete with other homes for sale. It’s an extensive home upgrade that will be costly. “Simply put, it’s a waste of money. It’s likely going to cost you much more than you realise when you could sell your home, buy a new one, and spend much less!” says Fitzgerald.

“This is one surefire way not to recoup the money you spend on renovations, especially if you are taking the home down to two or three bedrooms,” warns Fitzgerald. “That is going to have a serious impact on the buyer pool, and the families who are looking for four bedroom homes won’t even see yours on their search since it doesn’t match their search requirements.”