When the pandemic forced millions of workers to isolate themselves at home, the world of home improvement completely changed. DIY was already a popular strategy for homeowners to make repairs or upgrade their properties, but a huge wave of projects began when everyone started spending more time in their houses.
Though the isolation has faded, the thirst for DIY home improvement has not. Homeowners who want to make improvements to their properties will often forego the services of professionals in order to save money and have the chance to work with their hands.
For your house, what kinds of projects should be prioritized? Although the primary purpose may be to increase functionality for yourself and your family, you should always consider the implications for the value of the home. Here are five DIY projects that will have a significant impact on the value of your home.
Small Bathroom Renovations
If you are shooting for optimal return on investment, or ROI, then it is tough to beat a minor bathroom renovation. This type of project is not a full bathroom remodel, so it is not going to be too expensive. However, smaller updates like new flooring, a new vanity, an updated showerhead, or a fresh coat of wall paint can completely change the functionality and aesthetics of the bathroom. Eventually, when you sell the home, this small bathroom renovation could yield a return rate of 70% or more depending on how expensive the changes were. You could even do small jobs like re-caulking the tub or replacing the fixtures for a decent value boost.
Build a Deck
If you want a good challenge for your DIY skills, then building a deck is a great project to invest in. Since it is not an interior room, there are fewer complications to navigate, like wiring or piping. However, it is still crucial to get the framing, joists, posts, and floorboards right to ensure a sturdy and safe structure. Although you can look up “deck builder near me” and rely on professionals to get the job done well, it can be far more satisfying to complete the deck yourself with the help of a few friends or family members who enjoy working with their hands as well.
Add a Border Fence
Privacy and safety are top concerns for both homeowners and potential buyers. If you put in an aesthetically pleasing fence, then you will experience greater privacy when spending time outside. This is a great option if you have pets or kids that spend a lot of time playing in the yard. The right type of fence can also significantly boost curb appeal, attracting more buyers to check out your property. Some will be willing to pay top dollar for a fenced-in yard, so you can come very close to recouping your entire investment with the right buyer. A popular choice for fencing is white vinyl, which will have the greatest impact on resale value but can still be installed yourself if you know what you are doing and have all the essential DIY tools.
New Flooring
Flooring is an upgrade that varies in terms of value boost. A simple update could increase property value by 10%, while a complete overhaul could result in a 40% increase in sale price. It all depends on the type of flooring you install, the extent of that flooring, and the preferences of your buyers. Natural hardwood, laminate, and vinyl are three of the most popular choices for modern flooring, so if you install these materials new, your home could receive significantly higher offers in the future. If you are unsure about your ability to install new flooring correctly, then hiring professionals for those renovations is crucial to ensure it is done right.
Remodel an Attic or Basement
Building an addition is expensive, so there are more cost-effective ways to add living space to the home. An attic or basement is a great place to add value to the property with a bit of a makeover. They could be turned into workout rooms, additional bedrooms, playrooms, or simply cleaner spaces so the next owner of the home has the freedom to choose. With this strategy, the added value will depend on how the next owner wants to use the space, so it could yield a high ROI if you get the right buyer.
Save Money With DIY Projects to Increase Returns
Upgrading your home is an exciting process. If you have the ability to apply your knowledge and work with your hands, completing a project that boosts property value is incredibly satisfying. The key is to choose a project with a great ROI so you get the most bang for your buck. Between small bathroom renovations, custom decks, border fences, new flooring, and attic or basement makeovers, you have a lot of great options to invest in your home and increase its sale price.
