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Financially Wise Home Improvement Ideas

Written by Posted On Monday, 14 September 2015 12:07
Financially Wise Home Improvement Ideas DollarPhotoClub

Unless you are doing well enough financially that you can spend loads of money on whatever home improvement project strikes your fancy, it’s a pretty good idea to consider what kind of return you will get on your investment. While your enjoyment is difficult to quantify in dollars, you can get an idea of what impact it has on your home’s value.

 

Looking for fresh ideas? Houzz is an inspiring tool for home improvement.

 

A Fresh Coat of Paint

 

Few home improvement ideas are more affordable than a fresh coat of paint. Even if you aren’t sprucing the place up before putting it on the market, a new bold color, or just a fresh layer of the same, can really brighten up a space, or even transform it into something entirely new.

 

Add Crown Molding

 

Add crown molding to a room, and it’s instantly given a more sophisticated appearance. While it may look like a million bucks, it will only cost you couple for every foot of molding you need. They come in all kinds of styles, whether you want simple or ornate.

 

Also read: Different Types of Crown Molding

 

Upgrade Ceiling Fans

 

Assuming you have ceiling fans that have seen better days, this is very affordable way to upgrade a room. And if you’re looking to put your house on the market, you will be happy to learn that ceiling fans were in the top 10 most wanted items for home buyers, according to the 2013 National Association of Home Builders survey “What Home Buyers Really Want.”

 

Not all financially wise home improvement ideas have to be on the cheap. If you have some money to work with, consider some of these higher priced ideas below, which still give you a good return on your investment.

 

An Energy Saving Dishwasher

 

If you have an old dishwasher, there’s a good chance you’re throwing money out the window with excessive energy costs. An Energy Star-qualified dishwasher, which can save you more than $30 a year in energy costs. Plus, you have a selling point if you are planning on putting your home on the market.

 

Also read: How Much Money Will Energy Star Appliances Save Me?

 

Build or Upgrade Your Patio

 

Homes are no longer just about the space inside four walls. Homeowners are increasingly taking advantage of the front and backyard space they have, by essentially creating an additional living area where they can entertain or simply relax with the family.

 

Decks and patios are a pretty nice investment as well. According to Remodeling magazine's annual “Cost vs. Value Report,” 80.5 percent of the cost of adding a wood deck is returned in the home value.

 

Do you have an idea for a home improvement project with stellar ROI? Leave a comment and tell us about it!

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