Investing in Your Home: What projects will yield the highest return?
How much money you spend on a renovation project really depends on what you plan on getting out of it. Are you doing it to improve your every day way of life, or are you planning on selling your house and want to increase the value. As a seasoned veteran in the remodeling industry, I am constantly being asked the question “What I can do to have the biggest impact on the value of my house?”.
While it is a common belief that any money you put into your house will add value to it, this is not always the case. There are really two different reasons that people invest money into their home- Repairs and Renovations.
1) Repairs- Projects like replacing your hot water heater, patching a leaky roof, repairing damaged siding, or sealing up cracks in the foundation are not going to show you a return on your investment but they are going to be required to keep up the overall condition of your home. (more…)
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