Renovating your home can make it more marketable, but it can also be a risky proposition. It may seem like a small project - the last prospective owners were turned off by the look of the bathroom fixtures, or the color of the kitchen cabinets. Changing them out could ultimately make your house sell. But it could also become a big financial drain that you never recoup.
Here are a few things to stay away from.
While the kitchen is arguably one of the most important features of a home, entirely remodeling a kitchen can be extremely expensive. Unless you have connections that can get you discount cabinets, appliances and/or countertops, you're better off limiting your kitchen renovation to something simple. Make a tile backsplash, change out the cabinetry hardware, and give your cabinets a fresh coat of paint instead.
Adding "Neat" Features
You might think a hot tub next to the fireplace is exactly what your house needs, but that doesn't mean that the next owner will agree. You may have gotten a great deal on a built-in wine fridge, but not everyone drinks wine. Before installing permanent or semi-permanent appliances, ask yourself how likely it is to universally appeal to everyone -- not just you and four of your like-minded friends.
Look around your bathroom and you'll probably find four or five things about it that you really would like to change if you could. But that doesn't mean that you should. Bathrooms are highly personal spaces, and the tastes of the next owners may vary widely from yours. Besides, bathroom renovations can get expensive, especially if you have to bring in a plumber. There's no sense putting a lot of time and effort and money into a bathroom redo, just so that the new owners can redo it again.