Home renovations that give you the most bang for your buck

Home renovations that give you the most bang for your buck
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When it comes to home improvement projects, it’s important to prioritize both your personal values as well as the potential return on investment. And when you’re on a budget, you want to make sure you’re spending your money wisely and really getting the biggest bang for your buck!

Read more: 5 ways home improvements can qualify for tax breaks

First think about what you’re trying to accomplish. Some typical goals of home improvement projects may include:

  • increasing resale value
  • expressing personal taste via interior design and curb appeal
  • maintaining and protecting your investment
  • added comfort, convenience and functionality
  • energy efficiency, savings on utilities or green upgrades
  • storage solutions for more organization
  • more sleeping and living space

Home improvement projects that accomplish multiple goals

So when you’re trying to decide which improvements to tackle first, or which ones to take on at all, consider projects that accomplish multiple goals:

  • Best ROI for resale: Improvements that allow you to recoup the most on your investment when it comes time to sell the home.
    • Install a new steel entry door: According to Remodeling 2015 Cost vs. Value Report, the national average ROI for a replacement front door costing $1,230 is 101.8%, the top return on a remodel.
    • Paint the front door a bright color to accomplish self-expression and improve curb appeal.

Read more: 10 home improvements that can really hurt

  • Protection from the elements and energy efficiency: These improvements last a long time and increase the home’s value to future buyers. Here are a few things to consider replacing with upgraded, energy-efficient versions:
    • ​roof
    • furnace
    • kitchen appliances
    • ceiling fans
    • window
  • Shiny good looks for the kitchen
  • Extra space for people

See more on the ROI for these improvements.

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