Home Improvement Ideas For Low-Cost, High-ROI Home Improvement Projects

Home improvement, when done right, is more than just a cosmetic upgrade. It’s about making a home more comfortable, functional and safe for your family to live in. And, if you plan to sell your home in the future, it’s about getting the most return on investment. However, not all home improvements are created equal. And, many projects are costly — so much so that they can cause financial pain if you overspend. The good news is that there are plenty of low-cost, high-ROI home improvement projects that can add value and improve your quality of life.

A little bit of planning can help you stay on budget, avoid going into debt and ensure your home improvement project is the right fit for your lifestyle and neighborhood. Here’s a look at some key tips and expert advice to keep in mind when planning your next project.

Most homeowners will take on a home improvement project at some point, whether it’s renovating the kitchen, upgrading the bathroom or adding a deck. And while some of these projects will increase home value and help your property recoup their costs when you’re ready to sell, they won’t necessarily boost your property’s curb appeal.

In fact, a recent survey by NerdWallet found that only about half of the improvement projects homeowners took on over the past two years were able to pay for without tapping into savings or going into debt. That’s down from a few years ago when more than two-thirds of those who took on these projects were able to do so.

The survey also found that most of the homeowners who planned on taking on a home improvement project in the next two years weren’t doing it to make their homes more appealing to prospective buyers. Instead, they were looking to make their homes more comfortable and to feel more satisfied with them.

Some projects will always be a necessity, such as fixing a leaky roof or a cracked sidewalk. And, if you’re considering selling your home in the near future, some repairs and renovations will be a must to boost your property’s value and appeal.

Creating a welcoming entrance to your home starts at the front door. Polishing up the entrance can be as simple as adding a new house number, outdoor light fixture and mailbox. If you’re a DIYer, you can even give it an antique or upcycled look to create a one-of-a-kind aesthetic.

For a more complete upgrade, you can add curb appeal with fresh landscaping or an attractive fence. Or, if you want to go big, you can replace your roof or install energy-efficient appliances. And, of course, a fresh coat of paint can do wonders for your home’s interior and exterior. No matter what type of home improvement you’re considering, it’s important to plan ahead, consider your neighborhood, and ensure the project makes financial sense for your current situation. Especially as interest rates are rising, it may be wise to delay a major home renovation until you’re better prepared.

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