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5 Home Renovations That Are a Waste of Your Money

April 9, 2010

Put down the hammer and step away from the power-saw. According to a recent U.S. News & World Report article, certain home renovations may not provide as much of a return on your money as you might have expected. By all means, make your house a home. But when it comes to resale value, keep in mind that each of these home “improvements” returns 62% or lower on your investment.

1. Home Office Remodel
Though adding a home office may provide you with peace and quiet, you’ll be stripped of your peace of mind once you learn of its low return. Square footage is often a commodity in homes, so consider adding an extra bedroom instead, which is more versatile and thus more appealing to home buyers.

2. Adding a Sunroom
The average cost of adding a sunroom is a whopping $73,000, which is money that could better be spent on a more practical or multi-purpose room for house-hunters, such as a play room for a large family or a nursery for expecting parents.

3. Bathroom Addition
Resist the urge to add an extraneous bathroom to your home. Although it may seem like a luxury, when you consider the square-footage cost of plumbing and permanent fixtures, an extra bathroom will set you back much more than a comparable luxury, such as a walk-in closet.

4. Installing a Backup Power Generator
Generators act as an emergency source of power when your electricity is knocked out due to strong winds, extreme temperatures, lightning storms, overloaded circuits and other factors. They make sense for some cities and neighborhoods more than others, and adding one when you don’t necessarily need one may be a waste of money.

5. Adding a Garage
Garage additions are expensive and labor intensive endeavors that suck money (and often heat or air conditioning) out of your home. Rather than creating a space simply to store your car or extra junk, invest your money in making your home more energy-efficient.

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