Home Improvement Projects Worth Your Money

After closing on the purchase of a new home, it can be easy to become overwhelmed by a number of projects that you want to tackle around the house. We have put together a quick guide on how to prioritize these projects and which ones you can save money on by taking care of yourself.

Step 1: Write It Down

It is important to put all of your necessary repairs and renovation ideas down on paper so that you have a solid understanding of what you want or need to accomplish. Once you have it all down it is generally less overwhelming and can help you begin to get organized. 

Step 2: Prioritize

Now that you have your task list you can start to order your projects from most to least important. Things that are an immediate issue such as a leaky roof or broken water heater should be at the top of the list, while items that are more cosmetic such as repainting or a kitchen remodel should be lower down because they are less time-sensitive. Once you arrive at the cosmetic section of your list, you can further rank these projects based off of the value that they will add to your home. Projects like a bathroom or kitchen remodel tend to provide some of the best return on investment when it is time to resell your home down the line.

Step 3: Determine What To Outsource And What To DIY

When deciding whether or not to take on one of these projects yourself or not, there are 3 main factors to consider: time, money, and skill. The quickest way to make this decision is to evaluate whether or not you have the skill to accomplish the project. If you do not have experience as a  plumber or a roofer, it is probably best to leave related projects to professionals. A mistake with repairs in these areas can lead to a negative impact on the shape of your home. For more information about jobs that should likely be outsourced, take a look at our previous blog about projects that home owners should avoid trying to do themselves. 

If the project does not rely on a set of specialized skills, however, then you are left to weigh the remaining two factors of money and time. If you are looking to repaint a bedroom for example, then you have to determine if it is worth the time it will take you to paint (or learn to paint) the room rather than spending the money on a professional painter. Every person’s decision will differ depending on their comfort level with a project and their financial situation. 

If you would like an extra set of eyes on your home renovation projects, give us a call! We would be happy to put you in touch with one of the trusted professionals in our network or to have a conversation with you about the return on investment you would get when it comes time to sell your home. For more information about home improvement decisions, take a look at this article from CNN Money.