Summer is finally here and it’s time to take advantage of the great weather and take on a home improvement project. Many homeowners have the same question: where should I invest the money in order to ensure I get the best return on my investment? At the same time of thinking of adding value, you also need to consider your own personal wants and needs. So, then the question becomes: what home improvement project do I personally want to take on while still being cost conscious about my return on investment?
Well that’s where this list should help give you some clarity:
INTERIOR: When it comes to the interior of a home, the kitchen and bathroom renovations usually get the best return on investment. Although they can be time consuming and expensive, they are almost always worth the investment. Typically, the ROI on a kitchen or bath remodel is around 85%. Adding open shelfing or storage system in living or bedroom is also a great return on your money because who doesn’t like more storage space?
EXTERIOR: If you are looking to revamp the exterior of the home, a fresh coat of paint is always a great option! John Kmiecik, regional vice president for the National Association of Realtors, points out that first impressions definitely matter: “When I’m sitting with my buyers in my car and we pull up to a home, if it doesn’t look halfway decent, my buyers in many cases say, ‘John let’s take a pass on this, because I just don’t like the outside.’ “Even if you aren’t immediately planning on selling, you still want a nice fresh coat of paint on your house to impress visitors, neighbors and passersby.” Another great summer project to take on (with great return on your investment) is building a deck! It really is a solid return on investment because it adds living square footage to the home at a relatively low cost. Also, it will be a great place to entertain family and friends year-round!
Remember, you don’t need to be thinking of selling to consider your home’s value. By choosing summer renovation projects wisely, you can enjoy a do-it-yourself project and reap the benefits of home improvement – all while putting money in the pocket of your future self by choosing a value-adding project! If you don’t think taking on a renovation project is in your cards, have no fear, that’s what we are here for. Give us a call to get your as-is offer today!