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Where to Spend Your Money in Home ImprovementJanuary 19th, 2017 by
When you decide to give your home a facelift, it’s easy to get swept up in the array of options. But which upgrades are worth the price, and which will you quickly regret?
To answer that question, you’ll have to take a step back and answer a couple more. No matter the answers, there are some rules of thumb that’ll help you save money when necessary and invest where it matters. Read on to learn more.
What’s Your Game?
Before making a decision about where to spend your money, you should figure out why you’re spending it in the first place. The answers to these questions can help you decide on your priorities and thus where to put your cash.
- What do you want from this remodel?
- Are you trying to make upgrades for a future sale?
- Are you here for the long haul?
The Quick Sell
If you’re planning to sell sometime soon, focus on amenities that have universal appeal. Upgrades to bathrooms and kitchens are most likely to recoup the majority of their cost at resale, so it’s worth your while to pursue those projects.
Focus your time and money on upgrades people want. These add-ons are some of homebuyers’ most desired amenities and are most likely to help you make a sales:
- Granite countertops or a central island for the kitchen
- Updated fixtures and décor in the bathroom
- Walk-in closets
- Energy efficient details like windows, flooring, and heating
When it comes to deciding on those amenities, err on the side of practicality. Don’t sacrifice precious time, money, or square footage on additions that are high maintenance and wasteful when high-quality basics can create the same appeal.
The Long Game
If you’ve found your forever home, you can focus your attention and money on embellishments that help retrofit the space to meet your needs.
While customization projects don’t always offer a great return on investment at resale, it makes sense to create a space by and for you once you’re permanently settled.
Don’t be afraid to spend money on some customization projects if you see fit. Just make sure that you choose high-traffic areas.
There’s nothing worse than dropping a few thousand dollars to pretty up a bathroom you don’t use.
Spend your money where you’ll be able to appreciate its worth daily.
Décor trends are fleeting. Do yourself a favor and invest in permanence. Focusing on these basics (but good investments nonetheless) will save you from issues in the future:
Save your money when buying easy-to-replace details like hardware, paint, or light fixtures, and focus instead on choices that are efficient and enduring.
Investing decisions all come down to you. Whether you’re looking to make a quick turnaround or want to turn a house into your dream home, you should be discerning when deciding where to spend your money.
Sometimes it’ll pay off, and sometimes good enough will be good enough. Take time to ask yourself what you want and what you need. If you’re honest, the result could be a dream and a moneymaker.