June 22, 2022
In today’s competitive housing market, renovating your existing home may be a more appealing and affordable alternative to buying new. With the right home improvements, you can make your home more enjoyable for living and may also realize a return on your investment. The key is to pack as much value into your home improvements as you can, getting the most bang for your renovation buck.
Here are five home improvement hacks to help you pay less for more.
Do your research.
When deciding what home improvements to complete, avoid impulsive decisions. Instead, research what home improvements add market value to your home. You may be surprised to learn that some home improvements, while appealing, actually can decrease your home’s value. Small or moderate kitchen updates, upgraded windows and siding, and bathroom remodels can often come close to paying for themselves. At the same time, projects like converting bedrooms to offices can actually make your home less valuable, for example.
Plan, plan, plan.
Once you’ve decided what home improvement projects suit you, plan out every detail to look for ways to get maximum value. For example, if you’re in need of a new front door, you may get a better value if you have all your exterior doors replaced. Planning as much as possible can also help you avoid costly mistakes during renovations, like purchasing a kitchen sink that won’t fit your countertop.
Do it yourself.
With some projects, it may be possible to tackle them yourself. This would be the case with simple cosmetic projects, such as painting walls or installing floors. By doing the work yourself, you can save on renovation costs since labor charges are often more than half the cost of home improvement projects.
Know when to call in the professionals.
Some jobs are better left to the professionals, such as when knowledge of building codes and permitting is required. By having experienced professionals complete your projects when needed, you avoid the potential of having to redo work that wasn’t done correctly the first time.
Act as your own general contractor.
With adequate research and planning done ahead of time, you can orchestrate the work of individual tradespeople such as plumbers, electricians, and carpenters. By managing this part of the process, you can save on a large portion of your overall remodeling costs.
Approaching your next home improvement projects with these tips in mind can help you save big on your home remodeling projects and realize more return on your investment. For another tip, remember that choosing the right financing can help you save on home improvements, too. At UCU, we’re here for you with great rates and the personal service you need to get the right financing for you and your goals. Learn more about our financing options or give us a call at (800) 696-8628 for one-on-one guidance.