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When there is concern about the economy, people become more aware of prioritizing their home improvement spending. Some projects make more sense than others when considering how to maximize the return of your home investment dollars. If well planned, larger projects can address some or all of the smaller issues but the project must be affordable. Some guidelines to help you prioritize projects that pay are in order of most to least important when looking at return on your investment.
- Fix what’s broken – Anything that poses a safety hazard, leaks, or doesn’t shut or latch correctly.
- Replace what’s worn out – A new roof, carpet or other floor coverings, weather stripping on windows/doors or maybe replace the windows and the door.
- Update – Colors, styles, and materials that are more than 12-15 years old are likely to be outdated. Your homes can me much more comfortable and appealing to you and your guests by introducing new finishes.
- Upgrade – Less important for resale but more fun is upgrading or adding things that you don’t currently have in your home. A new Master Bath, kitchen or 4-season porch; all upgrades that can make your home more livable and not break the bank.