Dec 04

Investing in the Right Home Improvement Projects for Greatest Possible Return

It is completely understandable that many new homeowners fail to recognize the importance of carefully selecting the home improvement projects they will undertake based upon their unique personal circumstances. A homeowner who intends to sell the home in a relatively short period of time, for example, should take a host of different factors into account than a homeowner who plans to stay in their home for the next 40 years. The latter circumstance ought to see the homeowner prioritize their own personal preferences above all else, but the former should involve a bit more nuance when it comes to home improvement projects.

According to Kion Kashefi, homeowners who intend to sell their home within the next decade should consider how any improvements they make will affect the future resale value. This is because many of the more popular home improvement projects do not always yield a great a return on investment, and in some cases a project may actually have an adverse impact on the home’s total value. Since these projects often involve time and effort in addition to the financial investment, homeowners should always carefully consider the long-term implications of the changes they make.

One of the most common mistakes pertains to the kitchen, where custom features are a common yet costly aspect of a kitchen remodeling project. While these features are expensive and are composed of high-quality materials, many kitchen remodels do not hold their value due to the custom nature of the project. What is ideal for one person is not necessarily ideal for another, limiting potential buyers or forcing buyers to consider the cost of a remodeling project of their own. In these circumstances it is best to choose tried-and-true projects that have a near-universal appeal, such as the removal of carpeting and the installation of hardwood floors.

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