MONEY-WASTING HOME IMPROVEMENT PROJECTS TO AVOID

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When hard earned money is spent on home improvements whose rate of return is not appreciable, then such investment pinches a lot in future. It is very important to understand the cost vs. value ratio of any home improvement project you invest in. Some renovations are so expensive but in reality, add no value to your home.
Home
So, when it comes to making improvements in home, you need to be smart and wise enough to calculate the rate of return before finalizing your investment on any home improvement.

• Don’t be a fool by adding a pool in your home
Pool
Adding an in-ground pool in your home costs somewhere between $25,000 to $60,000 and the same pool will cost extra $2000 every year for maintenance. So, how will you manage to cover up such a huge investment? Even if you reside in an area which is hot and humid, still installing a pool in a home is one of the bad decisions you can make for your home’s value.

If you think the pool will increase the resale value of your home then come out of the dreams and face the reality- who will wish to pay maintenance charges of the pool for a lifetime if he is least interested in the pool?

So, be wise and install a new pool in your home only if your own family really wants it and you are planning to stay in your home for a really long time.

• Adding a master suite to your home
Master Suite
Many families prefer to spend most of their time in the master bedroom so when it comes to making improvements in your home, the first thing that comes to mind is the master bedroom. Homeowners wish to have a grand bathroom, a walk-in closet, custom cabinets, and a room big enough for a king bed and possibly a sitting area. While such upgrades sound to be very lucrative but it costs a lot to bring such changes in your master bedroom.

Your return on investment is expected to be about half the amount spent on renovation. So, it is always better to optimize the extra space you have and consider simply refreshing your master suite.

Same advice fits perfectly well here too as was in case of adding pools that having a luxurious master bedroom is no doubt an awesome decision only if you have plans to live in your home for a while, else the returns will be really disappointing.

• Addition of bathroom will really hurt your pocket
Bathroom

A cheapest 6×8 foot bathroom addition to your home costs approximately $50000 and a bathroom addition automatically drops 50% of its value. However, making improvements in bathrooms usually tops the improvement list of the family because this is the one thing that is really needed. But at the same time, you will have to note that making an investment, immediately beings a drop in value by 20%. So, is it really worth to add another bathroom to your home?

Having a great bathroom may increase the resale value of your home but when you take the bigger picture into consideration, you will find that you are at loss than at profit.

• Making an investment in the backup generator is not a wise decision
Backup Generator
It is an agreeable fact that some people reside in areas where power gets knocked down on regular basis but at the same time, it is also a fact that emergency preparedness comes at a hefty price. When it comes to preparing for an emergency, the first thing that comes to mind to bring improvements in the home is adding a backup generator to home.

A backup generator usually costs approximately $8000 on your ROI, neglecting the other small losses. Unfortunately, not all renovations are created equal, and you might find yourself losing more on your investment on backup generator than you gain. So, be smart before making any decision and think whether your addition will actually benefit your home or not.

Your time and money is a most precious commodity and to save them both, you can trust HAYS NYC to fix little things in the house or apartment. HAYS NYC deals with fixing little things like electric sockets in your bedroom to large projects like the renovation of your kitchen. So if you are looking for a handyman in NYC, you can trust on HAYS NYC as they have experience in providing 24*7 quality handyman services in NYC.

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