Chris O'Shea
Have you started thinking about home improvement projects? You want to do some updates, but you don’t want to just do any update. The fact of the matter is, there are some projects that reap better returns than others.
Here are three home improvement projects that add plenty of value. If you sell your home, these are most likely to boost the selling price. And if not, they will improve your home without busting the budget.
Update the Kitchen
If you do it right, you can update your kitchen and receive a positive return on your investment (ROI). It doesn’t have to be a complete remodel. Consider doing the following:
- Replace countertops
- Update cabinets
- Adding storage space
If you do want to go big, a study from the National Association of the Remodeling Industry found that the average return on a kitchen remodel of $28,000 was about 70 percent.
Revive Your Floors
Speaking of going big, updating or adding hardwood floors to your home is expensive, but it also comes with a big ROI. The same report found:
- Spending $3,400 to refinish hardwood floors could increase your home’s value by $5,000, which is a whopping 147 percent ROI.
- If you don’t have hardwood floors and you install them, they add an average of $6,500 to a home; a 118 percent ROI.
Replace The Doors
Simply replacing your front door is not only one of the easiest home improvement projects, it also adds a ton of value. According to a recent report:
- Adding a new front door has an average ROI of 488 percent.
- If you have a garage, replacing the door will reap a 93 percent ROI.
Whatever home improvement project you decide on, make sure you don’t break the budget doing it.
Do One Thing: Start small when considering home improvements. You don’t need to break the bank to increase your home’s value.
