HOME IMPROVEMENT HIGH ROI

By CLARICE SMYTH

HOME IMPROVEMENTS HIGH ROI

WHICH HOME IMPROVEMENTS TO MAKE

In this video, I talk about Return On Investment, or ROI but not in a stuffy way. I share what the Home Owner should consider when making interior design decisions. YEP, everything you choose to do to your home eventually impacts its value – even if you don’t plan to sell.

HOW TO GAIN THE MOST RETURN ON HOME IMPROVEMENT INVESTMENT ROI

TOP 5 HOME IMPROVEMENTS FOR HIGHEST RETURN ON INVESTMENTS IN 2022

Should you worry about Return On Investment if you don’t intend to sell your home? In this video, I talk about the TOP 5 Home Improvements for maximum ROI and what the Home Owner should consider when making design decisions.

f you haven’t subscribed please hit that button and the ALL bell. Thank You for spending your time with me. I appreciate you from the bottom of my heart. #ROI #ReturnOnInvestment #InteriorDesign #RealEstate #ClariceSmyth

There is much talk about home improvement and return on investment ROI, which updates to make to the spaces we call HOME. The answer resides in what your intentions are both for now and for the future. This is not an attempt to be vague – it is just fact.

Is your current home your forever home or a step on the property ladder? Will you remain in your current home three to five plus years or will you quickly update it and move on?

Once you are aware of your intentions then it is possible to ascertain which improvements and updates are best. Then decisions are based on either the bearing they will have on your quality of enjoyment for an extended period of time or if they serve the purpose for the intent of a quick turnover.

TIME

How do you decide on which home improvements to make…it’s all a matter of time.

If it is TRULY your forever home, do as you please. BUT keep in mind that the average time homeowners remain in one home is about 13.3 years. That is well above the time suggested time for major updates to kitchens and baths in preparation to sell..

THREE TO FIVE YEARS

Three to Five Years: The theme is a compromise – a little. If you love that round tile for the bathroom wall – get it is a timeless white instead of aqua blue. You love wood flooring in all species and would be fine with each room having its own color – don’t – pick your favorite ONE and run it throughout your home. If you love southern jewels but bought a modern home – don’t layer it in dental and egg-and-dart moldings. Instead of damaging the architectural integrity of the home, just decorate the interior in whichever southern style furnishings that set our heart to a happy beat.

QUICK TURN OVER

Quick Turnover: When looking to buy and sell in a short time it is best to design for the masses. This does not mean cheap updates. If your updates and improvements are of poor quality it can actually deter buyers. This is because they are asked to pay an “updated price” although they know they will have to tear it all out and redo it. It is best to make a realistic budget and allot for the necessary quality updates such as kitchen and bath fixtures, cabinets, flooring, and countertops. Then a lesser budget on other items such as doors, hardware, light fixtures, and appliances. It is more cost effective if a new homeowner decides to replace the budget friendly white dish washer you chose or the hollow core doors than it is to potentially damage/destroy a bathroom because of cheap cabinets, tub, or shower tiled in floor tiles.

QUALITY

Regardless of whether it is your forever, three to five, or a quick turnover home…QUALITY COUNTS.

Be honest when assessing your own skills. If you do a job and the workmanship is poor it is not money saved. It is a job that will have to be redone because it will not standup over your forever time or it will send red flags to potential buyers about the overall quality of the home you wish to sell.

Only do the work you are actually skilled at doing properly and pay a professional to do the rest – even if it takes a little more time to get it done. Money spent to do a project correctly is a good investment and will increase your ROI when selling.

INTERIOR PROJECT - ROI 2022

%

Hardwood Flooring Refinish

New Wood Flooring

Insulation Upgrade

Basement Conversion

Closet Renovation

Complete Kitchen Reno

Add New Bathroom

Data Source National Association of Realtors 2022 Remodeling Impact Report

147%

118%

100%

86%

83%

75%

67%

INTERIOR PROJECT - JOY FACTOR 1-10

RANK

Paint Entire Interior Home

Paint 1 Interior Room

Add New Home Office

Hardwood Flooring Refinish

New Wood Flooring

Insulation Upgrade

Data Source National Association of Realtors 2022 Remodeling Impact Report

CONCLUSION

The steps and strategies for home improvement and preparing property for sale can be similar property to property but it can also be vastly different. Always consult the appropriate professionals when deciding to buy, sale, or design your home. It may seem like it costs more but saves a lot in the long run. Professional do the job correctly and help avoid serious issues that could occur in the future or be discover in the home inspection or appraisal report.

Get a professional design analysis on your home to avoid committing your budget to the wrong improvements or leaving potential profits behind.

I would be honored to assist you if you are considering a design project for your forever home or one that you plan to sell in the near future. Contact me to get more information or to schedule a complimentary Discovery call.

DESIGN AND REAL ESTATE SERVICES

If you are looking to work with a designer to design your space, CLICK HERE to schedule your complimentary call with me, I would love to work with you to create your next design project. I offer local and virtual design services.

If you are considering selling your property in Alabama, I would love to help you achieve that goal. Ask me about how to get a FREE Staging Plan when you list with me.

Not every project should be a DIY and that certainly applies to selling your property. I am here for you.

Be sure and leave your thoughts in the comments below .