Enhancing your home can be a rewarding endeavor, but not every upgrade contributes to its resale value. That's perfectly fine—some projects are meant to enhance your personal enjoyment of your home. Here are three upgrades that may not significantly boost resale value:
Water Features: While outdoor water features like ponds and fountains can bring personal joy, they may not appeal to all buyers. According to a recent 2023 Home Decor Report, 27% of homeowners found fountains to be among the least enticing outdoor features. If the soothing sound of running water is on your wishlist, go ahead and install that fountain for your own pleasure.
Outdoor Kitchens: Unlike indoor kitchens, outdoor kitchens may not yield a substantial return on investment. Instead, they are a lifestyle investment tailored for those in climates conducive to indoor-outdoor living. Features like grills and fridges can offer a luxurious feel, but not every buyer may see the value. Consider your local climate, such as the sometimes unpredictable weather in Portland, which might impact the desirability of an outdoor kitchen.
Gazebos, Patios, and Decks: Gazebos, patios, and decks provide opportunities to enjoy the outdoors, but maintenance and weather considerations may make them less appealing to potential buyers. Not everyone wants to inherit such structures, and preferences vary. For example, while some may appreciate a deck or patio for outdoor relaxation, others may not be interested. Consider the climate and the fact that not every buyer will have young children, making features like large playgrounds or treehouses less universally appealing.
Remember, your home is your sanctuary, and these upgrades should enhance your personal enjoyment, even if they may not maximize resale value.
