Selling your home as an huge money-making opportunity. What is your current hourly wage at your job? If it's somewhere between $20 and $40 an hour. Selling your home will give you the opportunity to
Home Improvements And ROI
When it's time to sell your home, how many of the home improvements you've made actually bring in a return on investment (ROI) ?
Here are some of the areas of improvement that stand a better chance of a high ROI once they get done:
Small or Larger Bathroom Remodel or Renovation Project (not a bathroom addition)
Even small changes such as replacing or tearing down old, mildew stained wallpaper and using a fresh coat of paint will go a long way. Replacing older lighting with a system that you can actually see better with, usually can be done without emptying your checking account. Adding a new vanity, a new tile floor and even something as minor as changing the hardware or fixtures can all be done today for less than $700. Converting a walk-in closet into a powder-room with toilet and sink can really bring in about 15 percent for an updated bathroom area--not including plumbing expenses.
Removing a stained sink or old microwave or refrigerator for newer, energy-efficient models add big value to your home at selling time. Later, if needed, move on to new cabinets, back splashes or counter-tops. Generally speaking, you can expect to get back about 25 percent of a home's value for a new kitchen or a remodel project.
Nothing makes or breaks the ROI more than miserable looking flooring, especially after a room remodel or renovation. Laminated floors, simulated wood flooring or even a tile job may do the trick. If you have budget constraints, then consider replacing the carpet and re-doing the floor covering--one room at a time, starting with whichever is worse. Refinishing your already existing hardwood floors is well worth its cost when it comes to selling your home.
Replacing A Garage Door or Front Door
Replacing an older, two-car, steel garage door may give you a healthy ROI of 87 percent on a $2,500 investment. That being said, if you convert your garage into in-law living quarters (making it heated/cooled additional sq ft), expect an even higher ROI.
If your front door gets tired and worn out, replacing it with a new steel door is a project that kicks up your homes curb appeal and yields the best payback. According to the "2015 Remodeling Impact Report," a new steel front entry door has a national median cost of $2,000 installed, and can recover 75% of that cost at resale.
Which Brings In The Highest Returns?
Front door replacement: 96.6 percent
Wood deck additions: 87.4 percent
Attic bedroom or efficiency garage conversion: 84.3 percent
Garage door replacement: 83.7 percent
Minor kitchen remodel: 82.7 percent
Which Brings In The Lowest Returns?
Home office remodel: 48.9 percent
Sun-room addition: 51.7 percent
Bathroom addition: 60.1 to 85 percent
Backup power generation: 67.5 percent
Master suite addition: 67.5 percent
I'm a baby boomer who grew up during the 1950s in The Bronx, NY. In the mid 1960s my family relocated to Monmouth County, NJ where I graduated from high school and attended what is now known as Monmo....