It Just Makes Cents! 7 DIY Home Improvement Projects That Promise Serious ROI
September 14, 2020
DIY home improvements can be great feel-good projects. You get to learn a new skill, use your hands, and take pride in something you create yourself.
But let’s face it: Your DIY project doesn’t make sense if it won’t make cents. In other words, it needs to pay off when it comes time to sell your home.
“The key to winning the ROI game with home improvement is to take a less-is-more approach,” says Dan DiClerico, home expert at HomeAdvisor.
If your goal is to earn a return on your DIY investment, DiClerico suggests taking on smaller improvements that will have a big impact on buyers.
“Bells and whistles tend not to rank high on ROI,” DiClerico says. “The high-tech home theater might mean hours of fun for you and the family, but it’s probably not going to pay for itself when the time comes to sell.”
Of course, that doesn’t mean you can’t outfit your house with the latest technology—if you’re making an improvement that you’ll love and enjoy, go for it. But if you’re looking to roll up your sleeves and tackle a project that will offer serious bang for the buck, try one of these home improvement projects next weekend.
1. Refresh your kitchen cabinets
“If the cabinets are in good shape, adding a fresh coat of paint or stain will dramatically transform the feel of the entire kitchen,” DiClerico says.
Be warned: Even though painting isn’t very difficult, it’s still time-consuming. You’ll need to remove the doors and drawers to ensure a clean finish. “But in terms of skill level, it’s something even novice DIYers can handle,” DiClerico says.
And remember, slow and steady wins the race when it comes to any painting project.
“You could lose some buyers with a sloppy paint job,” says Scott W. Campbell, a real estate agent in Milwaukee. “If you truly want to increase ROI, a good paint job takes time and patience.”
2. Create curb appeal
Making a great first impression on home buyers is one of the quickest ways to boost your home’s value.
“Landscaping and gardening are the biggest ones that also are simple,” says Kendall Bonner, a real estate agent in Lutz, FL. “Curb appeal has a significant impact on buyer’s purchasing decisions.”
Aside from adding tasteful foliage and keeping your lawn manicured, a few strings of café lights can also improve your home’s outdoor space and curb appeal. Don’t forget to paint old fences and prune overgrown plants.
3. Give your front door a makeover
Want to boost your home’s curb appeal but don’t have a green thumb? Spruce up your front door instead. All it takes is a few coats of paint. (The same rules apply: Work slowly and carefully to avoid drips and roller marks.)
“A fresh pop of color at the front door is a great way to enhance your home’s curb appeal for not a lot of money or time,” DiClerico says.
4. Create a backyard deck
“Outdoor living is hugely popular, even more so since the pandemic, since people are looking to expand their home’s usable living space,” DiClerico says.
Creating a new deck is possible to do yourself, but “it’s not for the faint of heart,” he adds, especially if you’re putting in concrete footings for the deck posts. This project is best for intermediate to advanced renovators, and it helps to have a few friends on board to assist.
Keep the design simple—avoid any tricky changes in elevation—and work with pressure-treated lumber instead of hardwoods that are tough to cut and screw into, DiClerico says.
5. Brighten up the basement
You don’t need to spring for a fully finished basement to appeal to prospective buyers.
“Spraying the basement unfinished ceiling with flat black latex paint can make big difference to clean up a look, and spraying the walls,” Campbell says.
To take your project to the next level, you can add carpeting and adjustable lighting. By cleaning up the basement, you can help prospective buyers envision a space that will fit their needs, whether it’s as a rec room, play area, or home gym.
6. Add more storage
“Anytime you add usable living space to the home, you increase its value,” DiClerico says. “That’s true now more so than ever given all the time we’re spending at home.”
Making an addition to your home might not be realistic. But smaller improvements, like adding a pantry in the kitchen, a new storage unit in the garage, or even closet organizers, add valuable storage space to your home and will pay off when you’re ready to sell.
7. Make small repairs and keep up with maintenance
It may not be as satisfying as tackling a big project, but staying on top of your home’s basic maintenance is just as important and promises serious ROI.
“Many of today’s buyers are staying away from fixer-uppers in favor of move-in ready homes that won’t require frequent repairs,” DiClerico says.
Seemingly small problems like a leaky faucet, loose gutter, or missing light fixture can be a red flag.
“When buyers see things like that, they think to themselves, ‘What else is wrong with this house that I can’t see?’" DiClerico says. "Spending a few hundred dollars on these small repairs will let the buyer know that this house has been cared for.”
Lauren Sieben is a writer in Milwaukee. Her work has appeared in the Guardian, Washington Post, Milwaukee Magazine, and other outlets. Follow @laurensieben
Source: It Just Makes Cents! 7 DIY Home Improvement Projects That Promise Serious ROI Realtor.com (August 20, 2020) Lauren Sieben