A recent MSN article lists the 8 most overrated home projects that homeowners usually end up regretting.
1. Whirlpool bath
2. Room additions
3. ‘Versailles’ kitchens (high-end upgrades)
4. Marble counters
5. Deck off the master bedroom
6. Elaborate home theaters
7. Hot tub
8. Overly complicated home automation
When I look at this list I see a bunch of expensive but largely unneccessary projects. The only one I would seriously consider is a room addition if we really needed more house for our family and didn’t want to move.
The other items are either dated or luxury items I just don’t need.
I suppose a home theater would be nice but I’d settle for a large flat screen tv and surround sound. I certainly don’t really need stadium seating and a projector!
And a hot tub would be used maybe once a year (unless I happened to live next to the Playboy mansion). 
On the other hand, there are some home projects that are worthwhile. We recently had some work done in our home but we thought long and hard before deciding to have 2 projects completed simultaneously.
First, we had a sump pump installed in the basement to keep water out (we sometimes got a little seapage during heavy rains). We also added a half bath and walled off the furnace and water heater to create a little play area for the kids.
Next, we had a 3 season porch off our backyard insulated and converted into a bedroom. It was meant to be a bedroom for my father in law so he could stay with us while he battled lung cancer, but unfortunately he passed away before it was finished. So now we’re using it as a little home office instead.
In the end we’re not planning on staying in our home long term. We like the neighborhood but I can see some bad elements slipping in. We’re probably looking to move within the next couple of years and I think the work we did will be a big help when we put it on the market. Instead of a 2 bedroom/1 bath we’ll be listing a 3 bedroom/1.5 bath which means we can get a lot more for it.
Are you considering doing any work to your home? Do you think you’ll get your investment back when it’s time to sell?
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{ 9 comments… read them below or add one }
I want absolutely nothing from that first list. The closest thing that made my ears perk up was the home theater system, but honestly, our 47″ LCD tv and surround sound gets the job done…I DO NOT want an elaborate system…maybe a few more comfortable recliners someday…
As far as home projects that are worth it, I absolutely hated having cheap Berber carpet downstairs. Wood laminate is the best thing ever IMHO, lol.
We remodeled our entire first floor last year. We did that because we knew we would never move given the economy, and I wanted to really like our house. Our kitchen was a disaster before, and the family room had a ton of very unattractive brick. We didn’t knock out any walls but pretty much replaced everything else, including the flooring. I personally couldn’t be happier. I don’t know how much value it will add to our home, but if we did have to move, our house would probably sell faster than it would have otherwise.
Everyday Tips´s last [type] ..Everyday Things I Do To Save Money
I generally agree with the list. It’s hard to get your money out of a room addition unless you either do most of the work yourself or you (at a minimum) act as your own general contractor and have enough relationships with tradespeople to get decent prices on the work.
If I had to pick something I’d enjoy having, it’s definitely a deck off the master bedroom. I enjoy sitting outside and think I would *really* enjoy just walking out there in the morning or finishing a weekend evening with a cigar (not too many, though!!)
In terms of getting money back on projects – unless you’ve bought the house at a significant discount to market (read: foreclosure or short sale), it’s nearly impossible to get more value out on the sale than the cost of doing the reno.
Fred @ One Project Closer´s last [type] ..How to Patch Small Holes in a Textured Ceiling
I agree with the list for the most part, but not when it comes to the hot tub. If I had room in a backyard to get one, I would definitely do it because I would really enjoy the comfort and relaxation that a hot tub would bring. Most of the decisions I would make about home projects would be about my needs and desires, so I wouldn’t be looking into upgrading the value of my home at this point. For example, we got rid of an above ground pool to put in a patio and play area to suit our own needs, and not necessarily to get more money when the house is sold.
Moneyedup´s last [type] ..Blackberry Financial Apps
Ahhh, but I LOVE the hot tub! I’ve got a jet tub at home in the master bath I can sit in all day and soak after a tough tennis match.
A deck off the master bedroom is also awesome!
Financial Samurai´s last [type] ..Even Lebron Doesn’t Listen To President Obama
I guess it depends on what kind of view your bedroom has. If it’s a scenic overlook it could be relaxing and enjoyable. But if you are overlooking a highway, not so much.
Like Moneyed Up, I’m one who doesn’t look at my home as an investment, and instead , I look at it as a home.So we look at home improvements the same way; rather than focusing on its effect on potential resale, we focus on whether its something that we will use and enjoy. We’ve not done any on the MSN list, but we did put in an above ground pool and later added a Trex deck around one half of it.
( Trex, while more expensive than lumber, is decking and railing made using recycled wood and plastic bags and does not require painting, staining, waterproofing. I figured it was worth the extra $$ as i wanted to spend my time on the deck hoisting a cold one rather than holding a paint brush to staining the railing ) The entire project was about $11 k, and given how much time we spend out there enjoying it, has returned a lot of value for the money spent.
If I were planning on staying in my home for the long haul I wouldn’t put much thought into resale value. But we’re quickly outgrowing our little house and we’ll be looking for something a little bigger in the next year or two, so resale value is definitely on my mind.
Trex decks are sweet. One of my neighbors had one installed last summer. Not sure what he paid for it but it’s beautiful.
MIke makes a good point; if you are planning to sell your home near term, then it would make sense to keep resale considerations in mind. But as the article notes, what once was hot, now is not, so its difficult to anticipate what will make your home more attractive to a fickle market. I still say it makes sense to do the things that solve a need that you have and hell with what someone else thinks they want. What strikes me about the list in the article is that they dont seem to really address needs as much as they reflect status symbol ” gotta haves”.
As for the Trex, figure the cost for the decking materials to be about double that of lumber, with the labor costs about the same, since the skils used to build with Trex are much the same as with lumber. If you are doing it as DIY read the instructions for the railings, and if you are using a contractor that hasn’t worked with the stuff before, make sure he or she reads them first too