Building Equity – Which Rooms Will Give Us a Bigger Return on Our Investment?
Posted by: Cary Waddell 7 years, 1 month ago
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A DIY home improvement project can greatly improve the look and functionality of a home. Many people invest time and money each year into a home remodel project. But as the costs of a do-it-yourself project stack up, many people consider other factors about these endeavors.
Can these projects improve the value of a home?
Those who are smart with their finances always consider what type of return on investment they can get when it comes to a home improvement project. Certain types of projects can prove more effective in this way than others. While improvements to some rooms may not do much for the overall value of a home, improving others can make any place of residence more lucrative to current residents and to potential buyers in the future.
Renovated Kitchens with Modern Appliances
According to Home Advisor, most homeowners spend between $10,000 and $30,000 to remodel a kitchen. This means that a kitchen renovation is one of the most involved projects a person can engage in for their home, provided that they choose to do major renovations. While this can help any kitchen look better and provide a greater degree of convenience, it can also provide a good return on investment. New appliances and kitchen hardware are a great selling point for any home.
Redone Bathrooms with Water-Saving Amenities
A bathroom is one of the most important rooms in any home. When it comes to getting a good return on investment from a DIY project, utilizing modern amenities in the bathroom can prove very effective. Water-saving toilets and showers are relatively inexpensive to install, especially when one considers the amount of money they can save a homeowner. And in the event a person does choose to sell their home at some point, these types of appliances can help boost its value significantly.
Remodeled Garages with More Reliable Hardware
Though not every home has a garage, these rooms provide a great deal of convenience when it comes to storing certain items safely and protecting one’s vehicle from the elements and other hazards. Cleaning up one’s garage can help it look better, but DIY remodel projects can provide even greater results. New doors and openers, as well as newly-installed storage units can help a person protect their belongings more efficiently. This provides a solid return on investment, and can also improve the resale value of a home.
Every room is different, but when it comes to getting return on investment, some DIY projects are definitely superior to others.
Our DIY tools are designed with the DIY-enthusiast (homeowner, designer, gardener, crafts person) in mind. Create an account today to get started planning a successful project that is within budget. Share your projects progress with friends and family on Facebook, Pinterest and other social networks. You can even keep the projects private and only share with people you email a link to.
Make theDIYPlanner your source for all things DIY. We give you the tools to grow your skills, manage your budgets, share your ideas and present your talents all in one set of applications.
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Why we created Home Renovation Hub
The goal of creating HomeRenovationHub.com is to give homeowners tools they can use in real world renovations to help manage their project budgets, keep home improvements on course, and to track investments that build equity in your home. Since we use the tool extensively for our own personal remodels we are constantly tweaking and updating features to make it the most useful tool available to the DIY homeowner. If you are going through a remodel we would love for you to give us a try. In addition, we want your feedback as we build a collection of tools to help home renovators.
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