Home improvement projects is a big undertaking. Any homeowner who’s gone down the redo road knows that it can mean weeks — even months — of construction, debris and general chaos. However, it’s well worth it if it means bringing in big returns should you decide to sell your home down the line.
Before you start calling contractors or even daydreaming about your newly redone room, it’s important to know which home improvement projects are actually going to pay off.
1. Flooring
Scuffed, worn floors are like pairing an old pair of shoes with a new dress — they bring the whole look down. Replacing them may seem like a huge undertaking, but the return is dramatic. According to CBS, payback can be as high as 75 percent. That’s enough to make any homeowner bite the bullet and move some furniture.
Not only that, flooring is one home improvement renovation a handy craftsman can accomplish solo. That means a lower initial cost and therefore a bigger initial return. Hardwood flooring will be more expensive and harder to install, but it also has a real “wow” factor when it comes to selling a home. If you’re looking to do-it-yourself for less money, consider ceramic tiling or “floating floors” which snap together.
2. Garage Door
Believe it or not a garage door is one replacement that has a nice payback. It makes sense considering it takes up a large portion of your home’s exterior. According to CNN the average cost of replacing a garage door is $1,291. It adds $1,083 to your home’s value which is an 84 percent recoup. Not bad for a something that tends to be an afterthought.
3. Windows
Windows are the eyes of the home and those that are dirty, drafty and dingy definitely bring its value down. That said, installing new windows is good, but installing energy efficient units that are also easy-to-clean is even better. Not only will they brighten up your abode, but they can also save you the big bucks when it comes to your energy bill. According to Better Homes and Gardens, Energy Star windows can save you almost $400/ year.
4. Closets
Closets are a big winner when it comes to prospective buyers. You can never have too much storage space. However, don’t go overboard. Prospective buyers may pony up the dough for walk-ins or an extra hall closet, but it’s not worth the time or money to trick them out with silly extras like rotating racks or elaborate closet systems.
5. Cabinets, Counters and Fixtures
While a full-on fancy-pants kitchen and bathroom redo aren’t necessary, replacing tired cabinets, counters and fixtures can up your home’s value immensely. Adding granite countertops and modern cabinets to the kitchen, not only gives the space a fresh look, but according to CBS it can pay you back 80 percent of the money you initially threw down. In the bathroom, a simple sink replacement and new fixtures will spawn a 75 percent recoup. That’s one mini-facelift that’s well worth it.
Indulge in all these redos or just pick one or two. Not only will they pay for themselves, but you’ll have a brighter, happier, better looking home to boot.
