Like many, you may now be spending a lot of time at home during the past several months. And you’ve probably become more acquainted with all the flaws in your home: the outdated kitchen cabinets, the frayed carpeting in the family room that needs to be replaced by hardwood, the spare bedroom that needs to be converted into a dedicated office.
Maybe the thought of a renovation has crossed your mind. But is it the right time for that? It depends on the type of projects that you do. The tricky thing about home improvement is maximizing your return on investment. You want to spend money that will yield a return when you sell your home, but not overspend way beyond what a buyer would be willing to pay you. So how do you find the sweet spot?
Here are a few tips! Experts say that kitchen and bathroom renovations are among the projects that provide homeowners the best return. According to Remodeling Magazine, kitchens recouped 62% and bathrooms 67%. Others include 70% for windows; 75% for siding; 68% for the roof; and 75% for the deck.
If you are ready, now may be a great time to give some work to your local contractors. They may be more interested in doing the outside projects first, due to the current conditions, so remember to be mindful of their safety too!