When building a custom home, homeowners have to balance their wants with budget and reality. Certain features may seem awesome, but they aren’t necessarily worth the expense as they don’t add any home value. Even worse, some of these cool rooms may actually make it harder to sell your home in the future. If there’s room for these themed rooms, that’s great. But in the Toronto real estate market where square footage is precious, these extra rooms are seen as wasted space and are often designed so that they can’t easily be used for another purpose. That’s why even though building these types of feature rooms are exciting, having flex spaces is more practical.
Here are 7 features people often add to their custom homes that are super fun, but don’t add any home value so think it through before building it.
1. Swimming Pools
Who doesn’t enjoy cooling off on a hot day by taking a dip in a pool? Unfortunately, up here in Canada pools are viewed more as a burden than an asset. In warmer areas like California and Florida, pools can be used almost all year round making them worth their cost. But in Canada, where pools would be useless for more than half of the year, they’re not worth the costs. Pools are also dangerous for young children and eat up valuable outdoor space.
2. Home Theatre
Home theaters might sound great but the reality is that most people don’t need the extra-dedicated space. They already have a TV in their living room and with streaming services available they can view shows and movies from their tablets, computers, and phones too. In a larger home, a theatre might be okay, but in a standard home in the GTA, people view it as a waste of space. If it’s positioned in a multi-functioning space that’s much more preferred.
3. Home Gym
Having a home gym could potentially be a major selling point for a gym rat. But most people, even if they are into working out, prefer to leave the home to do it. Going to the gym or exercising outside means you can escape from the distractions that typically happen in a home. Most people in Toronto also don’t own their own gym equipment, so unless you’re planning to leave it all behind when you move skip the expensive gym reno.
4. Library
Dedicated working spaces like studies, offices, or dens are great. Many people work from home so having an at-home workspace is valuable. However, once you start shelling out the money to turn a flexible office space into a dedicated library, that value starts to decrease. People like options, so skip the expense of installing permanent features like custom bookshelves.
5. Extensive Landscaping
Landscaping is difficult because it’s vital to curb appeal but there is a limit. Spend enough on landscaping so that your home is inviting and appealing to buyers. But don’t invest in expensive landscaping like a full garden in your backyard. Landscaping doesn’t add any home value, just appeal, so do enough to achieve that but don’t break the bank.
6. Garage Conversions
In a place like Toronto where most homes don’t have dedicated parking spots like driveways or garages, converting a garage is a sin. Driving to work without the worry of digging your car out of the snow or scraping the windshield is a blessing. While garage conversions may claim a few extra feet of living space, they’re extremely expensive and most buyers hate them. So do yourself a favor and keep your garage as a garage.
7. Game Rooms
Game rooms can be a lot of fun, but not every buyer will have a use for them. If you want a game room in your custom home, great! Just make sure that it can easily become something else for the next buyer. Game rooms are typically compiled of objects that will leave with you when you move, so they don’t add any home value, sorry!
Conclusion
Adding value to your home is harder than homeowners think. It’s not about just adding cool features or rooms; it’s about adding the right cool feature or room. Upgrades on key, central spaces like kitchens and bathrooms will increase home value far more than a themed game room in the basement. If you want to have these fun spaces but still maintain good resale value make sure they act more like flex spaces, easily able to transition for another use. To learn more, contact us today!
