Home Improvement Projects to Save Money

remodelIt’s summer, which for many people means it’s time to relax and enjoy the warm weather.  But for homeowners, it is usually a time to tackle some home improvement projects around the house.  However, it can be difficult to know sometimes which projects are needs and which projects are wants.  That is why I wanted to provide this breakdown for projects than not only could save you money in the future by tackling them right now, but could also add value to your home.

Here are some ideas for projects that can both pay huge dividends for your home, as well as ones you should probably avoid because they will just be money pits.  At the end, please share your experiences and any home improvements you’re doing to save money, and maybe even add value!

 

The Best Home Improvement Projects

The best home improvement projects that give you bang for your buck are ones that are almost maintenance-like.  By this, I mean you need to maintain them, but maybe you upgrade them in the process.  For example, you could replace your weathered siding on your home this summer.  Not only will it improve the look of your home, replacing siding is one of the best values, according to Remodeling Magazine.  On average, replacing siding recoups about 92.8% of its cost.

Another maintenance-type project is replacing an old deck.  Instead of doing maintenance repeatedly on the deck, you could just take it out and install a new one.  Depending on the type of deck and location, this is a good do-it-yourself project that you could do over several weekends.  You might need to rent some Hitachi construction machinery, but it is doable if you know what you’re doing.

 

Projects You Probably Shouldn’t Touch

There are a bunch of projects around the house that you may want to avoid.  I say may, because it is your house, and if you absolutely love the idea and are going to live there forever, then by all means go for it.  However, these are projects where you usually don’t get your money back for doing.  Here is the list, along with how much you can expect to recoup.

  • Home Office Remodeling – 46%
  • Upgrading a Garage – 54%
  • Upgrading a Master Bedroom – 64%

There are a lot of things you can do, instead of tacking a full upgrade or remodel.  In many cases, some updated paint and maybe some molding can transform a room for just a few hundred dollars.

What are your thoughts on these home improvement projects?

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