(HIB) – What’s motivating you to tackle that next home improvement project? Are you planning to sell and you want to make your home more irresistible? Or do you plan to stick around and you simply want to complete a project you can enjoy for years to come? Whatever your motivation, it’s always good to know the project you’re planning makes sound financial sense and the money you’ll spend will not be wasted.
To help you find the right project for your home, here are five suggestions from the experts at Remodeling Magazine, REALTOR Magazine and HGTV. Each of these improvements carries a high return on investment (ROI) whether you’re trying to sell your home or enjoy it for the long haul.
1. Replace your front door. While many homeowners now use the garage door as their primary home entrance, the front door is still one of the first things prospective buyers, visitors or neighbors notice. Improvements to your front entryway area offer a potential ROI of 95.5 percent according to the experts at HGTV. If your home is in need of a new front door, this easy project can be accomplished in a single weekend. And, if you’re looking for a more cost effective way to make a similar improvement, give your front door a fresh coat of paint and turn it into a unique accent.
2. Adding a patio or deck. As much as you enjoy life inside your home, you’ll enjoy life outside a little more if you have a suitable space for entertaining or relaxing. Decks and patios are popular options and wood decks have an ROI of 77 percent, making this a great project whether you plan to move or stay.
3. Remodel your kitchen. For many people, the kitchen is the most important room in the home and while a remodel can be expensive, the return can be worth it. Research shows an estimated 60-68 percent ROI on major kitchen remodels and a 75 percent ROI on smaller kitchen remodel projects like updating cabinets or replacing countertops or appliances. Any of these projects can add a stunning look to one of your home’s most popular rooms.
4. Replace your siding. Before prospective buyers or guests can enjoy the inside of your house, they’ll first be exposed to the exterior – make that a pleasant experience by replacing your siding. This project has a ROI of 72 percent and gives you the chance to completely remake your home by changing the color or style of your siding.
5. Don’t discount smaller projects. Your home improvement project doesn’t have to be one large project; it can be several smaller tasks instead. Projects like cleaning the carpets, painting interior rooms and tackling lawn care all yield high ROIs and can have a dramatic impact on the appearance and functionality of your home.
To find more small projects at with a big return on investment visit achieve.usbank.com.
Now is a great time to undertake a new home project and any of the ideas above, done well, will benefit you whether you’re trying to sell your home or enjoy it in the months and years ahead.
To find more helpful suggestions for every step of your homeownership journey visit achieve.usbank.com.
Ready to get started? Visit usbank.com to find out how a home equity loan or line can help kick off your project right.