Easy home projects with big payoffs

Grand Rapids, MICH (WOTV) - Making home improvements is a great way to increase the resale value of your home, but choose your projects carefully – some renovations are better investments than others.
 

Big payoff projects
There are three areas of your home where some quick fixes will go a long way toward improving overall property value: the kitchen, the bathroom and the basement. Improvements can be as simple as slapping on a new coat of paint, but with today’s low loan rates, you might find bigger projects to be a better investment.
Kitchen projects typically yield some of the biggest returns, often netting between 60 and 120 percent of the amount invested. Even something as simple as sanding and finishing existing cabinets or replacing drawer handles and knobs with higher-quality hardware can really add value to your home.

Adding a bathroom to your house can have a similar return on investment, but you don’t need to go all out – remodeling an existing bathroom is also a great way to improve your home’s value. Consider re-tiling the floors and walls, installing a new sink or replacing that dingy old toilet with a new porcelain one.

Unfinished spaces in your basement may make great work areas, but creating an additional living area will make your home more appealing to potential buyers. It’s fairly easy to add some drywall and carpet to an unfinished space to create a subterranean entertainment center.

No-return projects
Some projects may be a lot of fun, but aren’t likely to add a lot of value to your home. An in-ground trampoline, for example, may provide hours of entertainment for you and your kids, but it’s not going to add anything to the value of your home.

Other fun projects like elaborate playhouses, backyard skate parks, tree houses and wall aquariums won’t bring you much by way of resale value, either – and may even hurt your chances of selling when the time comes.

All topics for informational purposes only and are not intended to provide legal advisement.