In Edmonton Alberta, most mainstream renovations will provide you with a 50 to 75 percent return on investment if you sell right away. In other words, spend a dollar and get up to 75 cents back. Don’t forget however that the better prepared your home, the bigger your potential audience. Most buyers want move-in ready.

However there are some renovations based on the report published by Harrison & Bowker that should only be completed for your enjoyment. These 4 renovations will add little value when it comes to selling your home.

1. Alarm Systems

Alarms bring a zero to 10 percent of cost return when it comes to resale value according to the report. And I can confirm based experience that most buyers won’t want your alarm equipment, or to take over the monthly maintenance fee.

2. Pergola

Have you enjoyed that beautiful wooden pergola out in the yard? According to Harrison & Bowker they add zero to 25 percent in value. I have known some buyers insist that the seller removes the pergola before they move in. I guess the lesson here is that they add lots of visual appeal, but little in the way of practical use.

3. Hot Tub

Hot tubs return only 5 to 40 percent of their cost according to the report. Most people find they don’t use them very often and they can be costly to use. If you don’t have one now, I guess the lesson here is don’t add it.

4. Skylights

There’s no denying that sky lights add interest to most rooms. However, according to the report, they provide only 15 to 30 percent return upon resale. Its also been my experience that many potential buyers worry about the prospect of leaks.

So, what can we learn from all of this? If you are a home seller, some renovations like fresh paint for example delivers a dollar for dollar return. Many renovations, however, are best left not done.

On the other hand, if you are a buyer then do consider the potential enjoyment of particular features in the home. Just make sure you don’t get drawn in and pay too much.

About the author:

You can read more about the author of this blog by clicking this link - Stuart Neal, Broker, REALTOR® & Team Lead.

Our FIXED FEE home selling program gives clients proven results & affordability. To learn more call our Broker Owner & Team Lead Stuart Neal at: 780-760-2014 or visit our program page www.FlatFeeRealtyAdvisors.ca

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