Which Home Improvement Projects are Worth it
Two home improvement projects that are worth your money, and two that are not
With spring right around the corner, you might be considering making some upgrades on your home so that you can put it on the market. While it's tempting to think that every improvement will result in boost in your selling price, that's not the case. Below are two home improvement projects that are worth your time and money, and two that are not.
Deck. Everyone loves spending time outside, so adding a deck to your house is a great way to add value too. As Marketwatch reports, a wood deck is cheaper and adds more value, but it's also more expensive to maintain. A composite deck is more expensive upfront, but requires less work over the years. Both versions, however, are a smart add on. The return on investment (ROI) on a wood deck is 87 percent; on a composite deck it's 74 percent.
Minor kitchen improvements. When it comes to kitchens, your best bet is to go small. Focus on the details & like cabinet handles, the paint and a nice backsplash. If you target small but noticeable items, you're more likely to see a big ROI. Currently, the ROI on minor kitchen remodeling is 83 percent.
Bathroom remodels. Revamping a bathroom is typically not a good idea. It just involves too much — a new toilet, shower stall, sink, floor, and wall tiles are all getting updated. It's a lot of money with little return. Like the kitchen, focus on minor improvements, not major ones. The ROI on a major bathroom update is only 72 percent.
Second-story addition. It might seem like adding a new space to your home is smart, but it's not. It is simply too expensive to be worth it. The ROI on this is just 71 percent.
Article was written by Chris O'Shea for SavveyMoney®.