In January, my husband and I found a home we both loved and decided it had to be ours. After closing, we couldn’t wait to start making it our own! We had dreams of new kitchen countertops and dark, hardwood floors. Or perhaps even knocking out a wall to make the floor plan just a little more open. I mean, who wouldn’t want to be able to watch the TV and cook dinner at the same time? So we did it … and then some.
After hours of research and many estimates, we made sure everything was as cost-effective as possible without sacrificing quality. We thought we would, of course, be able to increase our home’s value by doing all of these upgrades so it’s worth it in the long run, right? Wrong!
Not all home upgrades are created equal
What we didn’t realize is that just because you put money into your home doesn’t mean you’ll get any of it back. Check out our infographic to see upgrades that will get you the most bang for your buck, and the ones that you’re better off skipping.
(Information from Remodeling Magazine’s Cost Vs Value 2015 Index)
I was so surprised to learn that when you renovate your home, you rarely get your money back. Instead, it’s all about recouping as much as possible, so choose your projects wisely! Even though the work we did on our home won’t all come back to us, it was still worth it to us to make it our own. If you’re considering doing some upgrades to your home, just keep in mind that simple, lower-cost projects tend to return the greatest value. Who would have thought a new front door would be at the top of the list? I just might make that my next project now. Eye-opening stuff!
Want to learn more? Download the full Cost vs. Value analysis here.