There are several things to consider when it comes to home improvements. For one, the current inflation rate suggests more expensive costs for materials, labor, and such. So, whether you are thinking of remodeling your workspace at home, space-saving, or perhaps considering a future resale, it is always better to take things with a grain of salt. No shortcuts.
And while it sure pays to consult or hire a professional, some would rather skip the process and do the research themselves. But to what extent? The list below might come in handy and give you solid answers before launching your next project.
Here’s a rundown of 6 helpful tips and home update ideas that don’t break the bank and give the best ROI:
1. Plan Ahead
Planning takes an integral part of the process like home upgrades, as decision-making should–because when done wrong, that is money, effort, and time put to waste.
We have seen the horrors of failed constructions and home remodels due to lack or poor planning that only results in doubling or tripling the costs–you don’t want that. You could have saved a good chunk of your hard-earned money for other worthy repairs.
2. Set A Budget
Setting a budget (and sticking to it) will save you time and money in the long run. And with an organized list of what to buy, which to source the materials from, best-discounted deals, and rates, it should be a breeze if you have a budget to work around from the very beginning.
Tip: Set aside an extra resource or budget for unforeseen expenses or costs. Allot a few percent from your whole budget- this way, you are prepared to make necessary adjustments without worrying about breaking your savings or finances.
3. Know What Increases Value
Say you want to list your property for a resale, know first what best possible home improvements add more value to your home before doing the groundwork. Ditch some myths that box you from considering more practical and functional upgrades instead.
Want to add or remodel the pool? If you live in a tropical country, this feature sounds like a worthy investment, especially considering the visual appeal of a space. But the location also plays a big part. If you live in the U.S., you might want to go for a warm bath instead. Or install heating features, change the carpet to warm the place up in anticipation of the winter season.
4. Consider A Minor Kitchen Remodel
The kitchen is the busiest part of the house. And news flash! It offers one of the best values for home improvements too. Considering this, you can maximize this area by installing light fixtures, allowing more light and space to come in, and converting it to a fully furnished and equipped space future buyers will appreciate. You can opt for minimalist decors, interiors, neutral tones, or a paint job. Sand and paint those kitchen cabinets instead of buying a new one. Sometimes, less is more and less expensive too. Or,
- Bathroom Upgrade
The average return in investment for bathroom upgrades is ultimately high at 70% – home sellers should take advantage of this. The bathroom has the second-highest rate of return and yields a high joy score. So perhaps you might consider new plumbing fixtures, fresh paint, or a new flooring to elevate and spruce up this area of the house.
- Convert Your Own Home Office
Since the pandemic, a functional workspace at home has become another valuable feature that more prospects or buyers look for in their future homes. And remote work is likely here to stay. Recent studies show a higher productivity rate among those working from home –and this is despite the dispersed location of workers. So it is the best time to get creative and invest in something functional and more likely to yield a higher rate of return.
5. DIY Projects
Unleash your creativity with DIY Projects but know your limits. Set boundaries with what type of projects you can or cannot do, as other DIYs tend to be costly. It might not be best to sacrifice your budget allotted for the whole upgrade instead of just one.
Even a great DIYer, at some point, would need the expertise of a pro. But how would you know if you’re investing and contacting the right person for the job? Ask your friends or family for recommendations. It should narrow down your list of prospects and come up with the best one.
6. Consult An Expert
We go back to the importance of hiring a professional, say a contractor, before doing minor or major home repairs. Not only will it save you from incurring unwanted or unnecessary costs, but it also paves a clear path or course of action towards realizing your project.
Bonus Tip: Do Not Stick With The Latest Trends
It’s okay to observe the latest home upgrade trends or take inspiration from them, but it doesn’t mean they are here to stay. What might look good in the 80s may not be as appealing and valuable now. Hence, you have to make sure to only invest in something that grows and appreciates through time.