These Home Improvement Projects Can Pay for Themselves

Home improvement pays off in more ways than one. First is the enhanced beauty, livability, and pride that comes with a remodeled dwelling. Second is the chance to enjoy enhanced market values and a higher resale price. In this post, we’ll reveal how to reap high returns in both ways. Let’s begin by looking at a part of the home that occupies a high spot on most people’s remodeling lists.

The Kitchen

The average American household spends $3008 every year on restaurant meals, according to CNBC. Reasons for this exorbitant sum vary. But, for many people, the urge to eat out stems from dissatisfaction with their kitchen. Some of the most common complaints about the existing design include:

• Inadequate counter space. Preparing the typical meal involves multiple tasks, including measuring, chopping, mixing, and, of course, cooking the ingredients. That’s not to mention serving the food and cleaning up after the meal. An enhanced layout can make each of these steps easier.
• Lack of storage area. In many homes, the existing cabinets are crammed to the point they’re almost overflowing with everything from dried pasta to canned soup, often in a confusing, haphazard way. A streamlined food storage system can remove much of the frustration that drives people to their local fast food outlet.
• Stale, unattractive decor. For lots of people, the styles of the 1970s are a testament to humanity’s less admirable qualities. Little wonder, then, that they resent being reminded of that decade every time they enter their kitchen. Anything that helps them to put lava lamps and leisure suits behind them is worth a few bucks.

According to HomeAdvisor, the average kitchen remodel costs between $4181 and $11,955, with a mean completion time of two weeks. Subtract the amount spent on restaurant meals while adding the potential increase to home values, and it’s easy to see why the project makes so much sense.

The Bathroom

The bathroom is second only to the kitchen when it comes to popular remodeling projects. Here are some of the most common upgrades:

• Side-by-side sinks to accommodate both partners. Being able to brush, floss, and take care of personal grooming tasks at the same time can save a lot of hassle on a busy weekday morning.
• Spacious shower and tub areas. Having the option to bathe at one’s leisure, with no need to perform complex bodily contortions due to cramped space, can make anyone’s life more satisfying.
• Modern decor. As with kitchens, antiquated bathroom designs appeal only to a certain class of nostalgic nonconformists. Most people prefer a look that reflects 21st century styles.

Costs for bathroom remodeling vary from under $100 to over $18,000, depending on the extent of the work and whether the job requires altering the room’s size and/or layout. Again, however, the payoff in terms of both increased livability and market value makes the investment well worth considering.

The Exterior

Making a positive first impression is important whether you’re selling a home, going on a date, or landing a job. These options made HGTV’s list of popular home exterior projects:

• A new front door. Fiberglass and steel have replaced wood as the materials of choice for this all-important part of the residence.
• Updated siding. New materials offer a variety of textures and colors that are light years ahead of the plasticky options of the past.
• This is one category in which moderation is key. A healthy lawn, a few flowerbeds, and perhaps a stone walkway and water feature will catch buyers’ eyes. A layout that resembles a European monarch’s palatial estate is more likely to scream headaches and high maintenance costs.

That’s our guide to money making home improvement projects. Use this information when whittling down your options. When all’s said and done, you’ll look back on the experience as money well spent.

About The Author

This article was written by Seth Murphy.

Additional Resources

• 5 Home Improvements To Consider by Maria Mastrolonardo
• Home Improvements To Avoid by Paul Sian