Diy Home Improvements That Add Value – Which DIY home renovation projects could add the most value to your house – and which ones to avoid
As Americans spend more time at home due to the pandemic, they’re looking to improve their homes — but not every project is worth the effort
Diy Home Improvements That Add Value
The pandemic has many people thinking about tidying up their homes. But not all home improvement projects get decent returns. Getty Images
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Thanks to the coronavirus pandemic, Americans have a lot more time on their hands — and they’re spending that time at home.
Earlier in the health crisis, economists predicted that spending on renovation projects would actually fall across much of the country. But recent data shows that there has been a definite surge in interest in some home improvement projects.
Look at the lumber market: There is now a shortage of pressure-treated lumber used to build decks across the country.
Meanwhile, the housing market has recovered well from the start of the pandemic, with home sales rising significantly thanks to increased buyer demand fueled even further by mortgage rates- ever low.
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As a result, many homeowners may be considering the benefits of fixing up their home to make it more appealing to potential buyers – and a nicer place to live in the age of social distancing. And they may be considering going the DIY route, given the extra free time many people have this summer.
“They’ve been sitting at home for a few months, and they want to spend a little bit of money, invest in their house, and make it a little bit better,” said Steve Cunningham, owner of Cunningham Contracting in Williamsburg, Va., and vice chairman of the National Association of Home Builders (NAHB) Remodelers.
But not all DIY home improvement projects will offer homeowners a solid return on their investment. Here’s what homeowners need to consider before breaking out the toolkit.
Remodeling Magazine produces an annual list that tracks the cost of various improvement projects against the percentage recovered in the home’s resale value. Many of the projects at the top of the list are not for the faint of heart – or someone who is not a trained professional.
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“Their only limitation would be their skills,” Cunningham said. “These DIY shows, they show a person starting up, and then you go to commercial and come back and it’s ready to go. They show only part of the process needed to get it right.”
Getting in over your head can be extremely costly. Take, for example, shower retiling. If a homeowner does not know how to properly waterproof under the tiles, their work could lead to leaks. And by the time they notice the leak, they could be looking at thousands of dollars worth of damage in terms of rotted wood and new tiles, Cunningham said.
“’These DIY shows, they show a person starting up, and then you go to commercial and come back and it’s ready to go. They show only part of the process needed to get things right.”
The same goes for anything related to diving. In these cases, hiring a professional is often the cheaper route in the long run.
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A fresh coat of paint can do wonders, especially if you choose the right place and color. “Paint the front door,” says Amanda Pendleton, ZG Zillow, -2.77% home trends expert. “A glossy coat of exterior paint can add to your curb appeal.”
However, when it comes to painting, the devil is in the details. Painting your front door black, in particular, could add as much as $6,000 to the sale price of your home, according to Zillow research. Likewise, blue bathrooms can add nearly $3,000 to the sale price of a home. Throughout the rest of the house, aim for modern neutrals such as gray and taupe to boost a home’s curb appeal. Also, paint is relatively affordable, adding to the ROI of these changes. At the other end of the spectrum, a home painted yellow sells for an average of $3,600 less than comparable homes.
Another relatively simple change a homeowner can make is to replace lighting fixtures with smart lights. “Not only are you going to save money on your power bill, but you’re going to sell your home seven days faster,” Pendleton said, citing additional research from Zillow.
There are also cheaper and easier alternatives to major home improvement projects such as installing new flooring in your home. A Zillow survey found that 87% of real estate agents suggest cleaning the carpets before listing a home. Many homeowners will put out the carpet anyway, so instead of investing in installing a new one, a homeowner can rent a carpet cleaner from their local home improvement store and renew their carpets on the cheap.
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Similarly, rather than installing new tiles around the house, a homeowner can safely re-surface their floors instead. “You could even change the color out,” Pendleton said. “If you’ve got a beige that’s gone yellow, you could put gray grout in and it’s going to look a lot more modern.”
Cunningham recommended that DIYers think about the finishes around their house, including kitchen backsplashes and bathroom faucets. “It does so much to the look of something to do a little update,” he said.
And if money is a concern, it’s good to prioritize the places buyers care about the most. “I love my remodeled kitchen, the kitchen is the worst place to spend your money,” Pendleton said. Instead, focus on the main bathroom of the house, which often has a lot of appeal with buyers.
With crowded public spaces a threat in the age of COVID-19, home buyers are much more interested in purchasing a home that offers outdoor living space that they can safely enjoy.
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“Good landscaping has been proven to help homes sell faster, so get to work making your yard look perfect,” says Rachel Stults, deputy editor at Realtor.com. “Gardening has become a hot trend during quarantine, so why not show buyers what they can do with your space by starting a little vegetable garden?”
You don’t need to be difficult to improve your outdoor space. Cutting back overgrown trees, edging the lawn and planting colorful flowers go a long way. “
However, homeowners looking to kick things up a notch may want to consider installing a fire pit. Homes with fitted pools mentioned in their listing description sell for nearly 3% more than comparable homes.
“Good landscaping has been proven to help homes sell faster, so get to work making your yard look like new.”
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Millions of Americans have suddenly been forced to work from home due to the pandemic. And companies like Twitter US: TWTR have even suggested that their workforce may remain remote even after the coronavirus outbreak ends.
In fact, listings that include a home office command a 3.4% price premium and sell nine days faster than listings without one, according to Realtor.com data. “Buyers are going to be looking for well-appointed home office space now more than ever,” Stults said.
(Realtor.com is operated by News Corp NWSA, -0.12% a subsidiary of Move Inc., and is a unit of Dow Jones, which is also a subsidiary of News Corp.)
But there are dangers to home office projects. Many people’s first instinct is to convert their unfinished basement into a workspace, says Pendleton.
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“What we found from our Zillow research is that you only get about 50 cents in resale value for every dollar you invest in basement remodeling,” Pendleton said. “And at the end of the day, even if you work from home, you don’t want to do it in your dark, dingy basement.”
Also, people are very particular about their home office needs. Some people will want space for multiple computer monitors, others will want larger bookshelves. Making a space that is too tailored to your current needs could alienate buyers down the road. “Every client is a little different – one shoe doesn’t fit all,” says Cunningham.
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This 4,000-square-foot coastal retreat features a classic Craftsman-style exterior with cedar-inspired shingles, dormer windows and tapered entry columns. Two copper exterior lights are mounted above the two car garage with a fun weather vane on top of the home.
Invite a realtor or interior designer over to look at your home. Many realtors will do this as a courtesy, but you will probably have to pay a designer a consulting fee. Check
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