I read a good piece in Yahoo News today, outlining 6 renovations which people think will add value to their property, but don’t. 5 of the 6 apply to Playa del Carmen real estate, or even Mexico real estate in general, as much as they do to Canada.
Before you read, it’s important to keep in mind that there’s a difference between renovations that you do for your personal pleasure or needs and those that you do to add value. This article simply states that these renovations won’t add value, but that doesn’t mean you can’t do them just for yourself, so long as you’re aware that you won’t “get your money back out of it” when you sell.
It’s also important to note that in Playa, all of these items will cost you significantly less than in Canada or the U.S. and you can feel more comfortable having them done since the investment is much lower.
The following are excerpts from the main points, with my comments in red italics:
1. Swimming Pools
Swimming pools are one of those things that may be nice to enjoy at your friend’s or neighbor’s house, but that can be a hassle to have at your own home…. In Playa, it’s much cheaper to install and maintain a pool. Many complexes include pools already. However, the point remains; if you have a pool installed on your own, don’t expect to get the money back when you sell.2. Overbuilding for the Neighborhood
Homeowners may, in an attempt to increase the value of a home, make improvements to the property that unintentionally make the home fall outside of the norm for the neighborhood. … In general, homebuyers do not want to pay $250,000 for a house that sits in a neighborhood with an average sales price of $150,000 … Common mistake. If you’re renovating in Playacar or Puerto Aventuras, you won’t have to worry much. But in most neighborhoods, be aware of going prices and don’t expect that outshining your neighbours will allow you to sell at double the price.3. Extensive Landscaping
Homebuyers may appreciate well-maintained or mature landscaping, but don’t expect the home’s value to increase because of it. A beautiful yard may encourage potential buyers to take a closer look at the property, but will probably not add to the selling price. … Note that last part: it could make a sale easier or faster, but not necessarily increase the value. Just as true here. It’s also worth noting that landscaping labour, just like renovation labour, costs MUCH LESS in Playa del Carmen than what you’re used to. So you can feel more comfortable “splurging” on these things just for your personal enjoyment.4. High-End Upgrades
Putting stainless steel appliances in your kitchen or imported tiles in your entryway may do little to increase the value of your home if the bathrooms are still vinyl-floored and the shag carpeting in the bedrooms is leftover from the ’60s. … If you do a renovation, it’s best to do the complete home before selling. This is related to the neighbourhood point above. A high-end upgrade will only increase the value if: 1) it is consistent with other finishes 2) it is consistent with the style of the home 3) it is consistent with the neighborhood.5. Wall-to-Wall Carpeting
While real estate listings may still boast “new carpeting throughout” as a selling point, potential homebuyers today may cringe at the idea of having wall-to-wall carpeting. … Carpeting is simply not done in Mexico. Especially in Playa, where it’s sandals for the beach all year round, inside and outside, it’s not convenient to get sand in the carpet. Ceramic floors are the norm – and work very well with hot climate, since they keep things cool!6. Invisible Improvements
Invisible improvements are those costly projects that you know make your house a better place to live in, but that nobody else would notice – or likely care about. A new plumbing system or HVAC unit (heating, venting and air conditioning) might be necessary, but don’t expect it to recover these costs when it comes time to sell. … Buyers will simply take for granted that these things SHOULD be in place. It’s like expecting someone to pay more for a car because the speedometer works.
Of course, any of these – except the carpet – you can feel free to do for your own comfort, and some items that don’t pay off are simply a part of regular and necessary maintenance. However, the point is the same; don’t create your personal dream home with an investment of tens of thousands of dollars and expect that someone else should be willing to pay that much more. If you’re looking at your renovation as an investment, be sure to consider your community and to research what buyers are looking for.
On the other hand, if you’re doing the renovation just for personal comfort, go for it! After all, as I pointed out, it is much cheaper to renovate and improve in Mexico!
Read the entire article here: Six renovations that won’t add value to your home.
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Andy Welbourne, from London, Ontario, has been living in Playa del Carmen and working as a part of the team with Thomas Lloyd for 7 years. He has worked with many Canadians and Americans to assist in finding their dream home in the Mexican Caribbean; many of these clients have turned into great friendships. Contact Andy at (512) 879-6546.
The TOP Mexico Real Estate Network; “Mexico’s Leading Network of Specialists for Finding and Purchasing Mexican Properties Safely!â€
Hoy ley un artÃculo interesante en Yahoo News que hablaba sobre las 6 renovaciones más comunes para adherir valor a las propiedades, 5 de esas 6 aplican a la perfección en los bienes raÃces de Playa del Carmen y México.
Primero, es importante entender que existe una gran diferencia entre las renovaciones que se realizan por “gusto propio” esto es, que se hacen con la finalidad de satisfacer alguna necesidad propia, y aquellas que se realizan buscando acrecentar el valor de una propiedad. Lo interesante de este artÃculo es que nos hace ver que la mayorÃa de esas “renovaciones” no adhieren ningún valor real a la propiedad.
Aquà un listado con las renovaciones más comunes que no nos hacen ganar un solo centavo:
1. Albercas
Las albercas son geniales para disfrutarlas en casa de un amigo o vecino, pero pueden ser un verdadero problema cuando el dueño es uno. Su mantenimiento puede ser costoso y laborioso y en realidad no genera ningún valor extra a la propiedad. Por lo menos no uno realista.
2. Construir “de más” en el vecindario incorrecto
Algunas personas creen que remodelando su casa sin importar el vecindario donde se encuentren puede ayudar a acrecentar su valor. La verdad es que puedes construir una mansión en un barrio de clase media, pero difÃcilmente alguien querrá costearlo. Porqué comprar una casa de $3,000,000 de pesos en un lugar dónde las casas promedio cuestan $1,500,000, ¿cierto?.
3. Gran cantidad de terreno
Los compradores de casas suelen apreciar el hecho de que una propiedad cuenta con un gran jardÃn o terreno libre, sin embargo no es común que estén dispuestos a pagar una gran cantidad de dinero extra solo porque el terreno de alguna casa es demasiado grande. Demasiado puede ser demasiado, recuerden eso.
4. Terminados de lujo innecesarios
Cocinas en acero inoxidable, o lozetas importadas para la entrada pueden verse bien, pero si el aspecto general de la casa está descuidado no harán mucho por el precio final de tu propiedad. Es más importante contar con paredes sanas, cableados eléctricos y conexiones de drenaje funcionando a la perfección que cualquier terminado de lujo que pueda “cubrir” esas imperfecciones. Un buen comprador sabe esto.
5. Demasiado alfombrado
Mientras que en el pasado solÃa ser toda una verdadera frase de venta para los agentes inmobiliarios “totalmente alfombrada” hoy en dÃa puede resultar más un problema que una solución. Invertir en gastos de este tipo realmente no ayudarÃan en nada a mejorar el precio de tu propiedad.
Claro, cualquiera de estas “adecuaciones” se pueden realizar siempre y cuando estén dentro de tus gustos e intereses particulares. Que sea algo que tu quieres para tu hogar, pero si lo que buscas es “sacar dinero de ello” nuestra recomendación es tomarse un tiempo y replantearse si realmente es necesario hacerlo.
www.topmexicorealestate.com la empresa lÃder en bienes raÃces en México.