Renovating even the smallest parts of your home can be daunting. Unexpected expenses often pile up, and if you’re the do-it-yourself type, the hours spent on various projects will consume much of your time. That’s why it is important to choose a project that will pay off later.
While hidden renovations such as repairs to electrical systems and plumbing may be necessary, there is less of a guarantee you will see a significant return upon the sale of your home. Focusing on outward cosmetics is generally a safer bet.
Curb appeal is always important when selling a home, and research indicates replacing an old or unsightly garage door may allow you to recoup up to 85 percent of your investment. The same principal applies to front doors, which may allow you to recover up to 91 percent of replacement costs. Building a new deck is also a win-win situation, as it gives homeowners an enjoyable addition, raises over-all property value, and allows you to recoup an average of nearly 88 percent of the initial cost.
Adding square footage to your living space is a great way to invest in your home and add opportunities for enjoyment. Repurposing an unfinished basement, for example, can give you a return of 69 percent of your original costs. Another wise investment is improvements in your kitchen, where even minor renovations can recoup 80 percent of your initial costs upon the sale of your home.
Little details add up. Replacing windows, faucet handles, door knobs, and lighting fixtures are just a few examples of improvements that can increase the over-all value of your home.
Of course, what you choose to remodel will also depend on what is most important to you and your unique needs for personal comfort. Just remember that every home improvement decision is an investment, and what you choose to address now will also affect you in the future. If you are unsure about what to do, consult a professional for more detailed advice.