Top home improvement projects you can undertake while sheltering at home. Check out the Cost vs Value Report for Charlotte area home improvement projects from Remodeling Magazine. Plus home remodeling projects with a low return on your investment.
Infographic: Top Home Improvements To Make During COVID-19
If you’re still “sheltering at home” more than not and thinking about what improvements to make to your home while you have some time on your hands, here are four suggestions that are easy to do and include organizing your garage and closets, getting your garden in shape, making your home more of a “smart” home, etc. These suggestions are perfect “do-it-yourself” projects for most home owners.
Return On Investment For Home Remodeling & Improvement Projects In The Charlotte Area
If you’re thinking about more elaborate home improvement/remodeling projects while still “sheltering at home,” see what you can expect as a return on investment on a myriad of improvements per the 2019 Cost vs Value Report from Remodeling Magazine by Hanley Wood Media who update this report annually. It’s important to note that with the exception of one improvement project, none will return 100 cents on the dollar. Often home owners undertake such projects to make their home more sellable and think they will get a 100% return. That simply is not the case.
But it’s worth pointing out that projects such as a minor kitchen remodel, a new garage door, a deck addition return 89+% of an investment. If you’re remodeling to sell your home, a new front door can make a huge difference in curb appeal and pay back much of the investment. And don’t forget that fresh paint and sprucing up your landscaping can go a long way in attracting a home buyer. It’s important to be judicious in making remodeling decision if you’re doing it to sell your home.
Some Home Improvement Projects To Avoid
There are certain home improvement projects that not only will not give you a good return on your investment, in some cases they might actually make your home harder to sell. These can include:
- Installing a luxury bathroom. Many buyers just don’t want to pay a premium for one, especially in certain price points. Things like steam showers, whirlpool tubs, etc. are a nice amenity, but unless your home is in the luxury market, buyers simply won’t pay for that upgrade.
- Installing an in-ground swimming pool. While pools in some parts of the country are considered a must, in some parts of the country they are not. And there are buyers who don’t want to undertake the cost or time to maintain a pool.
- Wall to wall carpeting. Increasingly we see a preference for flooring materials that are not carpet, especially in “living/dining/entertainment” areas of a home.
- Built-in electronics. Some buyers love the idea of a dedicated home theatre space, others prefer to use that space in a different way.
- Turning a bedroom into a walk-in closet. When you limit the number of bedrooms in a home, you limit your audience to purchase a home. This also goes for converting a bedroom into part of an owner’s suite.
- Converting a garage into a bedroom, bonus room, etc.
Always be sure not to over-improve for your neighborhood. And keep in mind that there are those projects that are best left for a professional and should not be a do-it-yourself project. Also don’t try to save money by skipping on getting the appropriate permits for major projects.
Don’t Confuse Home Improvements With Home Maintenance
Keep in mind that home improvements do not include home maintenance activities or projects. Home maintenance activities are necessary for preventive care of a home’s structure, mechanical equipment, and exterior of the property. Keeping your property and home in good condition helps you sell a home for top dollar while deferring home maintenance costs can cost you in a home sale.