Top DIY Home Renovations With The Best Financial Return
Homeowners who are considering dumping a large sum of cash into improving their home should keep a few things in mind while making plans. Funding a remodel of any scale should be done in such a way that the homeowner receives the maximum financial benefit when the home is sold.
Renovations and remodels are not all created equal. Some revamp projects will produce a bigger return than others. Just because a homeowner dumps thousands into a remodel, it does not mean they will draw the same return in equity. Take a moment to look over this short synopsis of a few the top DIY home renovation projects with the best financial return.
The kitchen is still king of the renovations
Drag out the tools, and get to working on that kitchen remodel as soon as possible. With the right hands and the right saw, a home’s kitchen can quickly make a sale for potential homebuyers. It would be difficult to not reap maximum benefits from a kitchen remodel.
Use common sense when choosing just what to change in the kitchen. It does not make much sense to add a $10,000 range to a kitchen in a one bedroom tiny home. The cost far outweighs what buyers will want to pay.
photo/ Prima Porcelain
Try remodeling the bathrooms
Remodeling the bathroom typically costs around $10,000-$15,000 to replace the bathtub, the sink, vanity, light fixtures, and the floor. Homeowners will pull an average return of more than a hundred percent at resale.
As long as the budget remains reasonable during the remodel, a bathroom renovation is always worth the investment. Homeowners can typically do much of the work on their own. Caulking a bathtub takes little to no skill. If a person can write a message on their kid’s birthday cake, they can caulk a tub.
The outside of the home can add value too
Redesigning a home’s landscaping is one of the most inexpensive ways to boost a home’s value. For only a few hundred dollars, owners can toss around some dirt and brighten up an ugly home exterior.
A coat of paint on the exterior of the home will also help to boost value. Try replacing overgrown shrubs with bright blooming flowers for maximum curb appeal.
Finish off the basement for more moolah
A finished basement is a huge perk for potential homebuyers. Homeowners can expect to see an average of 85 percent return on their investment in the basement.
The rate of return relies heavily upon location. The western U.S. typically pulls a higher return rate of a hundred percent or more at resale.
Energy efficient doors and windows
The average return on window and door replacements sits around 90 percent, but the money saved in heating and cooling the home should also be considered. Energy efficient windows and doors continue to save money for the duration of the home’s existence. There is virtually nothing to lose and everything to gain from replacing windows and doors.
Author: Anna Johansson
photo/ Pixabay
