Remodeling Projects that Pay You Back

One of the first questions that you’ll ask before you begin a remodeling project is how much of a payback on your investment you can get for it. It’s only natural when you’re considering the price you’ll be paying to think of the return you can get for what you’ve spent. Sometimes this return can be a part of savings you’ll make on your utilities thanks to the remodeling project and other times you’ll see the return in an increased resale value for your home. Either way, even if this is your dream project, you’ll want to know that it’s a fiscally responsible undertaking before you begin.

What Makes a Remodeling Project Financially Successful?

There are a few qualities a project will have if it’s going to be financially viable in the long-run:

• Bathrooms and kitchens are some of the first things that potential homebuyers will look at, so these will often pay off the most in terms of resale value. Plus, if you use any resource conserving fixtures in your remodel, you’ll save on your utility costs as well.
• Using styles that will last will guarantee that your project isn’t doomed to bring back a return if you decide to sell your home. Any trendy ideas can quickly phase out. You’ll also want to be sure that any changes you make to your home match with the general aesthetic of the neighborhood.
• Also, consider the geographical region your home is in and how that can affect your project. Labor is generally cheaper in the South than in the North, for instance. Fireplaces are more popular in colder climates and can give you a bigger return in the North than in the South. When you’re planning your remodeling project, take into consideration any local factors that can affect the design, planning, outcome, and return.
• Most importantly, you’ll want to spend your money smartly. Don’t pay for anything that’s not a necessary part of the remodel, unless you’re certain it will bring a big return. For the largest return on what you spend, make smaller changes that have a big effect.

Kitchen and Bathroom Remodels

Remodeling your kitchen or bathroom will increase the resale value of your home, and both can be excellent selling points. While full, upscale kitchen and bathroom remodeling projects can end up costing you thousands of dollars, there are ways to get a lot of value out of a less expensive project. Focusing on redoing the cabinetry, replacing a few fixtures, or whatever smaller features you believe require the most attention can help you create a much more attractive and comfortable space without breaking the bank.

During these projects, you can also select energy efficient and resource-conserving fixtures to install during the remodel. Your bathroom, for instance, is where you use most of the water that’s used in your home. Installing low flow toilets and sinks can help you save hundreds of dollars worth of water, plus, they’ll be a great selling point.

Interior Painting

There’s little else that so quickly and effectively make your home look newer and more improved than interior painting. Finding the right color scheme to use can help create a unified look throughout your home, and that can make the whole house feel completely different, completely new, and more comfortable. Interior painting is probably the most popular DIY home improvement project there is, but if you’re looking for professional results, there’s no substitute for hiring a pro.

Simple Landscaping

You don’t need to install a multi-level lake and waterfall to improve your home’s landscape. Some simple plants and strategically placed stones can transform any yard into an artistic achievement. Landscaping is a great selling point, and it can add more value to your home. This is a great way to get a huge return on a small investment.

Replacement Windows

Windows are a huge part of the appearance of your home, both in and out. So replacement windows can give you a huge return on your investment just by making your home more attractive. But replacement windows can also help with your home’s energy efficiency, which will save you money on monthly utility costs, and raise your home’s value.