That's right, turn the other cheek from such an idea for the home.
If you plan on renovating/improving your home, either to add value, and/or because you're planning on selling your home; there are some DIY and other projects around the home that you should avoid like the plague. Otherwise you'll be wasting your time, money, energy, and other resources. The choice is entirely yours, however if longevity in your current home is not part of your vocabulary; this article might be helpful, and could steer you in the right direction on your home improvement projects. Even if you plan on not renting out your home in the foreseeable future, you don't always know what the future holds either. Some home improvement projects to avoid include, yet are not limited to the following:
Nothing wrong with pools, however pools are expensive to acquire and to maintain, and hence can be off putting for potential buyers if your home is listed for sale. No different to excessively landscaping the front and/or back garden areas. If you plan on renting out your home, or somehow (before you know it) your home is on the rental market; having a pool is favoured among tenants, however this feature of the home will not allow you to ask for more rent in return. A couple of my family members were planning on getting a pool in their home, however were put off by the idea due to the expense ($30,000 just to install), and considering that they only live five minutes away from a couple of beaches. Therefore, it made sense for them to stick to the nearby beaches for their daily swims instead.
Lovely, yet think twice before installing in a home to add more value.
2. Other flashy features
Think waterfalls. They're pretty, yet it feels wasteful to acquire such flashy monuments when landscaping your home garden due to water shortages in many cities. Again, this feature does not add any value to a home.
Pretty: yes, yet not overly necessary. The waterfall was turned off when this photo was taken.
3. New Roofs
So unnecessary. Many people do not care what their roof looks like, provided there are no leaks. Of course, if there are holes and/or leakages in your homes roof due to hail damage or other circumstances; for sure, urgent repairs are in order. Not on the hit list of any home renovators project. If The Block was all about new roofs for the home, we all would have well and truly tuned out by now.
4. Replacing kitchen cabinets
All they need is a paint job, and/or some touch ups to restore to a fairly pristine condition. Only replace if space is an issue. Otherwise renovating the kitchen with new benches and tiles is an awesome investment that adds four times more equity to your home against the money spent.
Think this through
5. Movie rooms/private theatres
If you want an intimate movie experience, just stick to Gold Class at the cinemas. It is not worth the expense adding in special purpose rooms. Private theatres and other single use recreation rooms in the home will significantly jack up the price of your home, to the point where it will become difficult to sell, should you need or want to sell down the track.
6. Other considerations
Over improving a room in the house is not a worthwhile investment. For example, say the median house price in your area is $500K, and the current value of your home (again, for example) is $400K. Spending $100K on a particular room/s in your home will not necessarily increase the value of your home by that same amount. Also, do not alter a homes style. For example, adding in a modern kitchen to an old country style home in a country town. This may not appeal to the masses.