I am often asked if there are projects for the home that could actually make more money than you put into it. I stumbled on this webpage which goes over 5 home renovation projects that give you great returns and 5 home projects that pretty much stink. I thought this was worth a share because many of us don’t have a lot of money to put into renovations and even worse, doing a project that won’t even give you your money back when you go to sell. Check these out for consideration in your 2017 project plans.
Clearly you have a better chance of recouping all or most of your money on small projects as opposed to large ones. A key question to consider before beginning any project especially high dollar ones is: How long do I plan to live in my home? If you plan on keeping the house for at least five years, you shouldn’t worry as much about value as housing trends can take a drastic change in this amount of time. However, if you’re planning to sell in less than five years, then looking at the return is critical.
* Data and graphics provided by Remodeling magazine and Realtor.com.