Some homes on the market are new construction, and do not require much work to alter them to the homeowner’s tastes. However, many homes are older and, to sell the home for a higher price than it was purchased for and make a good return on investment (ROI), it might need some repairs or a face-lift of some sort.
It is important to note that not all Do-It-Yourself projects are created equal. Some DIY projects are more time, effort, and money than they are worth. In this article, we outline the best projects to get the highest return on investment.
If you are renovating your home (or parts of it) to create a better living environment, and not with the intent to sell, then you will want to consider your budget and what is most important to have in your home. Perhaps that is an impressive outdoor entertaining space, or maybe your bathrooms need new countertops that will make all the difference. Take some time to outline your concerns and get an idea of what materials are required to complete the project and what the estimated cost will be.
Either way, knowing what projects have the best ROI can save you a lot of money in the long run!
#1 Minor Bathroom Remodel
Some things you can do that are in a lower price range, and lower effort as well, are applying fresh paint, removing wall paper, or adding some texture. Homeowners could also replace the shower doors or even reglaze the tub instead of replacing it.
Sprucing up your homes curb appeal is a great way to add value! This could be trimming the current shrubbery or planting new greenery or flowers. Be sure to spend some time researching what plants thrive best in the environment you live in. In Northern Idaho, some good options for shrubs and vines are Serviceberry, Fourwing Saltbush, Redstem Ceanothus, Birchlead, and Mtn. Mahogany. Some great perennial (plants that will return in the Spring) options are Yarrow, Western Monkshood, Giant Hyssop, and Agave. For more information about landscaping in Northern Idaho’s “short-season, high altitude native landscapes,” click here.
Adding small details like lining your walking path or removing weeds from the yard and concrete can do a lot for appearances, whether you are selling your home or staying!
#3 Minor Kitchen Remodel
A minor kitchen remodel is more focused on cosmetic updates, rather than a complete restructuring of the layout. This can mean refacing cabinets and drawers and updating the handles or laminating (instead of completely replacing) the countertops or updating the light fixtures. Recessed lights are more popular now and can add a modern and updated look to your kitchen.
Even replacing the molding on the windows can add a refinished touch!
#4 Exterior Improvements
Besides landscaping, there are other exterior updates that can be made that will provide a higher average return. The style of house you have might determine what you prioritize as an important update, so take a moment to lay out your options.
Some improvements that may help increase curb appeal are painting a fresh coat on the house exterior and door, or even replacing the front door. If your house interior needs some sunlight, you may want to opt for a door that allows some light in. Updating window moldings or the windows themselves can provide a lot of value to the house.
Adding features like columns or a pergola are a charming touch as well.
Furnishing your porch and creating a sitting space, if possible, can help your home feel warm and inviting too!
#5 Attic Bedroom
Not all homes have an attic, but if yours does- you may be in luck! Converting that space into a bedroom can provide a unique focal point to your house. It is important to note whether your current HVAC system can handle sending air through another room. Otherwise, you might need to purchase another unit, which is a costly addition!
Some other ideas for renovations could be replacing your entry door or windows, adding a porch or deck, updating, or finishing your basement, cleaning up siding, updating hardware, a fresh coat of paint (exterior or interior), updating your backsplash in the kitchen or bathroom, or treating worn floors (staining them is another good option). Stick to a common theme and consider what you are able to do within your time, effort and budget.
There are so many ways to update and renovate your home to get the best return on your investment, or to just make your home a better fit for you or your family!