Are you wondering what the worst home renovations are for return on investment in Massachusetts?
Over the years, while working as a Massachusetts Realtor, I have learned that many folks do not realize the correlation between improving their homes and the corresponding return on investment.
So many people blindly assume that every improvement they make to their home will bring an automatic 100% return or close to it.
Unfortunately, this is not the case—far from it. One of the best home improvements you can make is a remodeled kitchen, which generally only brings a 75-80% return!
I don’t know how many times over the years I have provided a comparative market analysis on a seller’s home, and they were disappointed to find out the value was not quite what they expected.
This can often be traced to money invested in the home in places with a meager return.
Home Improvements With Low ROI in Massachusetts.
What Are The Worst Returning Investments in a Home?
If you are selling a home soon, making these improvements or renovations would not be wise. It is like throwing money out the window.
Swimming Pools
First, I should mention that adding a swimming pool somewhere other than Massachusetts may increase a home’s value. You can genuinely enjoy a swimming pool in Massachusetts for around three months.
The weather in the New England states is not the same as down south or out west in Arizona, where temperatures remain much warmer for a more significant part of the year.
Swimming pools are generally far more expensive to install in Massachusetts because of our rocky soils. The cost of an in-ground swimming pool can vary quite a bit depending on the size and whether it is a gunite or liner pool.
On the lower end, a liner pool will cost around $50,000 or more after you factor in the pool, fencing, landscaping, etc. A luxury swimming pool can quickly cost upwards of $100,000 if you go all out with an excellent design and frills, such as a cabana,…