10 cash-wasting home improvements

You may be itching to upgrade, but only one of these is likely to raise your home's value enough to cover the cost. The worst will lose more than half the money you put into it.

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332Comments
Oct 2, 2012 8:47AM
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I have to say that was one of the worst stories I have read on M.S.N.. Who are the clowns that do the cost research for the work to be done. Not replacing a roof is crazy.



Oct 1, 2012 8:15PM
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58K for a two car garage, Get serious! My garage has AC, skylights, storage area above,premium materials and I know I haven't spent close to 20K yet, maybe not even 15k. I can tell you I have spent exactly  2000 total for someone to do some of the work (garage door install, mason for rock , electrician to install power to garage( which I then finished up.) I feel sorry for anyone who can't be bothered to learn or who are physically unable or unable for a valid reason, time etc. to save thermselves a ton of money by doing it themselves .
Sep 28, 2012 5:39PM
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These cost figures are extremely inflated for most regions  of the country.  In the midwest especially outside large cities remodel costs are nowhere near this high.  I am a retired home designer and small contractor so I know what I speak of.  The most important thing to remember is not to spend out of proportion to the entire value of your home.  Don't put a $50,000 kitchen in a $100,000 house.  Be satisfied with new paint and stock cabinets from Home Depot, etc.  We have a relatively new home with a master suite, sunroom, etc. only because they were planned in the construction and not added on.  Additions are rarely cost effective unless you can do most of the work yourself.
Sep 27, 2012 12:39PM
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My old house has one bathroom. I'd give a million bucks for another bathroom with more storage. But with 3 kids i don't have a million bucks. But i am slowly saving a little at a time for my someday dream. And it would be worth every damn penny.
Sep 26, 2012 11:03AM
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I agree that is not right but i dont trust realtors either i know when we bought our home we talked to the people who owned the home and our realtor step in and said he could get us a great deal on the house we had a issue where we had to talk to the former owners and found out that the realtor told them that they could get us to buy the house for alot more then what they was going to let us have for it for and he got money for both side what fool we are and he was suppose to have them but it in writing to take care of things that was not done in the house and he said that they would do it NOT you cant trust any one when comes to remodel and updates i would love to do all the updates that alot of you have done  yes you can save alot of money if you do it your self but my husband in a wheelchair and cant do those things and yes we hired a handy man people said he was good WRONG he didnt finish the job and what a mess a four old could of done better and my husband payed him half up front we got all these unfinished rooms and i think updates are for more for what you want and enjoy  and if it get you money back when you sell it that a plus to
Sep 25, 2012 6:19PM
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Someone is lying somewhere, watch HGTV they show homes being remodeled all the time and there property values goes up  almost double the cost of the renovation.  They show the before and after appraisals, go figure.  Besides that this article basically tells you not to remodel anything because it will not be cost effective, so why didn't this article show what you can do to your home to add value to your home.

Sep 24, 2012 3:21PM
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How come there's NO mention of the ENJOYMENT , PLEASURE and USEFULNESS that  comes from these projects??????????????????

Why are they always tied into resale value? And or return on investment(cost)?????

Looks like I'm gonna keep my Schwinn.

I'm NEVER going to buy a new car. It'll go down in value.

All my shopping will be at the thrift store.

Let's not forget my 13" B&W television.

Sep 21, 2012 5:23PM
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Not a big fan of fancy homes so cant judge other items but we got sun room added about 4 years back and it is TOTALLY WORTH ( Come to seattle, for one rainy season from Sept to August  and you will know what do I mean by "rainy season" ) 

Not that we enjoyed rain more than ever but we clearly didnt get Seattle's depression syndrome throuout winter or dark days.... For 150 sq ft we spent about 25-30K ( with electric hardwood floor ) and this is the most ever used area in our house since it is developed..... 

so I am not agree with sun room being pricey remodeled project, as said others you always dont look at sale price but how much happiness and family time you get as a result of remodeling is always being count. 
Sep 20, 2012 10:00PM
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I don't know anyone who has replaced a roof for ornamental purposes.  
Sep 20, 2012 6:07PM
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So according to this article, a contractor has to do everything. What happened to doing work yourself?
Sep 20, 2012 11:30AM
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Prices seem very inflated to me.  Are you padding your numbers to make a case where there isn't one?  That would be typical of "journalism" these days.
Sep 20, 2012 8:30AM
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Just noticed......this information came from "The national assoc. of realtor's, National center for Real estate research" ??????.......Really............ I don't think they know squat about the average middle class house, and the family that lives in them!
Sep 20, 2012 8:17AM
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My wife and I like Old homes. The one were in now is 110+ years, as best as we can figure.  The entire article is a bunch of rubbish........especially the pool......I've always heard that inground pools lower the price of your house, or, at least, limit the amount of buyers who look at it.  It's a major headache, and expense that a lot of people don't want to mess with........(the Y is right up the street).  Our roof is 110+ years old standing seam tin roof, which we have sealed and painted every 2 or 3 years..it'll last forever.  What's this person talking about....let your roof leak, instead of repairing or replacing it?  He is joking...must be......just what you need, a bunch of rotton wood and water in your attic....this one blew me out of the water.  Where are they getting $10,000 for a home generator?  Our power company will put one in for $5000.00.  We lost power for 9 days because of hurricane isabell, and I can assure you that it's a worthy investment.  The whole article should be trashed.................I've NEVER heard of a kitchen on a deck for $50,000 dollars, (or what ever it was).  Guess I need to start watching more HGTV to see how people are throwing their money away!

 

Sep 19, 2012 9:46PM
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Whirlpool tubs are another bad investment- rairly used by the people who put them in and a major expense which holds stagnant water in the unused piping. additional  joints to leak, and most who

put them in have a seperate shower which is what they use. Better to put money into a decent shower,

perhaps with muliple shower heads. Either one should be fed off a tankless water heater that will not

run out of hot water.

Sep 16, 2012 10:14AM
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So basically, don't remodel...anything. 
Sep 14, 2012 10:35PM
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Ok,homes are investments. I buy homes that 30 to 50 years old. I make them safe,your electric safe,plumb them,level them ,update the kitchen,Usally add central heat and ac.I will buy them for 10,and add maybe at the most 15.Then I rent them. I do alot of the stuff myself,Yes there is contractor that you can talk with, and they learn you know what your doing and inspect your work and call in the inspector. Like my ac guy if i buy the unit and duct work ,he will draw me a plan,and then do the final hookup for 400.I get the warranty,he make 100 and hour..

 i have 26 homes ,they average 450 a month ,yes you have headaches, but the plus side is my CPA does property deprecation and property loss,just got told i need to go 12 g worth of tools,My wife has a fulltime job and we end up getting back money.And the sad thing about this,it all 100% legal. 

Sep 14, 2012 6:16PM
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People from every level of life will buy homes.  Our home doesn't have to be a mansion or have the latest trends.

 

We have updated our home, but it was for two reasons.  It is 21 years old and it needed it and if we decide to sell we want to get the best price for it.  While we are here we want to enjoy it.  If we suddenly pass over, we want it to be in good shape for our children to sell.

 

Our home is comfortable, but the 1% would not be interested in living in it, but as long as we like it that is the important thing.

 

Trends pass.  I noticed that the stainless steel appliances are being replaced with flowered ones.

Sep 14, 2012 3:39PM
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I hate realtors.An dope can be a realtor.Some people actually buy a house to live in,you know.If you think of your home as an investment,you'll never be happy with it.Stop listening to money grubbing jerks who always worry about everyone else has,like the idiot who wrote this article.It'syour home,do what makes you happy.
Sep 14, 2012 2:27PM
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If the only reason you are doing an upgrade is to sell, then the author is 100% correct. 
However if you are doing a remodel or an upgrade because that extra bathroom or the master suite is important to you then the recovery of the costs in a future sale is basically irrelevant.
You will get the value out of your remodel with your own use, if it adds to the value of your home when time comes to sell, consider that a bonus.

Sep 14, 2012 1:09PM
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Damage from roof leaks can cost thousands of dollars and reduce the value of a home considerably.  The first defense in protecting a home's structure is a sound roof.  Trying to sell a house with a thirty year old roof is like selling a used car with bald tires, it is hard to do.
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