3 home improvement projects to boost your bottom line

by | Oct 22, 2018 | Blog

With home prices at record highs and interest rates ticking upward, more homeowners are staying put. The result? People are heading to home improvement stores in droves.

“America is in the middle of a home renovation bonanza,” notes the Denver Post.

The newspaper cites a recent HomeAdvisor’s True Cost survey that found that Americans invested over four times more in home improvement between March of 2017 and March of 2018 ($6,649) than they did over the previous year ($1,492).

For those considering leaping onto the bandwagon, the Post notes that not all projects are equal when it comes to adding sales value to your home. It quotes HomeAdvisor home expert Dan DiClerico, who offered this list of key projects to take on, in terms of resale value:

Upgrade kitchen: Cosmetic kitchen makeovers, such as new appliances and countertops, can add 5% to a home’s value. For a median-priced home in Colorado—$367,000— that could add $18,000 in sales value.

Increase livable space: The True Cost survey found that adding space to a home, as in finishing a basement, boosts the bottom line by 5%, adding $18,350 to the value of a median-priced home.

Renovate bathrooms: Simple updates can make a big difference. Re-tiling the shower or bathtub, updating the faucet and sink and installing new tile can add 2-3% to your home’s value, boosting the bottom line by $7,340-$11,010.


Photo Copyright: Jared Rice / Unsplash

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