Three Interior Upgrades with a High ROIApril 6, 2014
It doesn’t matter if you are selling your home or plan on living in the property for the rest of your life, when you take on a home improvement project you are hoping for a high return on investment (ROI).
As you know, however, some projects have a higher ROI than others. You need to consider this before putting on your work gloves or hiring a professional.
Where to Start
The interior upgrades you make to your home will depend largely on the current condition as well as what you have done in the past. However, there are three projects with a high ROI that are well worth considering:
1. Fresh coat of paint. When was the last time you painted your home? If you don’t know the answer to this question, there is a good chance that now is the time for an update. Fortunately, this is a project you can take on yourself if you are willing to put in the work.
There is nothing wrong with hiring a professional, but you are going to pay more in the long run, thus dragging down your return. When you do the job yourself, the only cost is the paint and the supplies.
2. New flooring. If your flooring is up to date and in good condition, there may be no good reason to make a change (unless you are simply looking for something new). On the other hand, if your floors are damaged and dragging down the overall look and feel of your property, you should consider making an immediate change.
With so many flooring options, you know you will find one that provides your home with the right appearance. Consider all of the following: hardwood, ceramic tile, and carpet.
Regardless of which option you choose, the ROI is going to be among the best of any interior upgrade.
3. Kitchen update. Have you ever heard the saying “kitchens sell homes?” If not, you should keep this in mind as you consider the next project you are going to tackle.
Even if you don’t gut your entire kitchen and start from scratch, there are changes you can make that will increase the value of your property. Can you refinish the cabinets instead of replacing? Could you add a backsplash? What about the addition of new appliances?
There are not many interior upgrades that offer as high an ROI as a kitchen update.
If one or more of the areas above needs attention, now is the time to consider moving forward. Do you need help getting started? If so, contact Hope Designs for assistance. We can help you plan out your project to ensure that the ROI is as high as possible. You may spend some money upfront, but in the long run you are increasing the value of your property.