It’s a great time to start thinking about home improvement projects! Deciding where to start can be a challenge, though. Do you want to start in the kitchen, or does your bathroom need a serious update?
Unless you have your actual dream home, you probably have a list of things you’d like to change in your house. To figure out where to start, review this list of the top 10 home improvement projects you can take on this year.
What Are the Benefits of Home Improvement Projects?
Home improvement projects usually require your time and resources, but their benefits are typically worth the effort you put in.
HomeLight reviews multiple reasons you might want to remodel your home. Three practical benefits of home improvement projects are:
- Daily convenience: Certain projects can make your daily routine easier. You may find that your kitchen layout isn’t suitable for family cooking.
- Property value: If your home is older, improvements can increase both your property value and the ability to differentiate from other sellers.
- General happiness: It’s not uncommon for people to take on home improvement projects just because the changes will make them happy.
The Top 10 Home Improvement Projects to Undertake This Spring
Unless something is broken, it’s a good idea to make a list of the projects you might want to invest in and see which ones have the most benefits.
1. Minor Bathroom Remodel
If you don’t need to change the layout of your bathroom, HGTV suggests that a minor remodel could net you a if you sell your home. This includes things like replacing the bathtub and other fixtures.
Whether you want to sell your home or just enjoy a well-manicured lawn, landscaping could potentially yield a 100% return according to HGTV. It’s also the first thing most people notice about your house.
Pro tip: You can hire a designer if you don’t have the experience, or you can sketch out a plan for your landscaping team to arrange.
3. Minor Kitchen Remodel
As with the bathroom remodel, if you just want to make updates to your kitchen, HGTV says a minor remodel could give you a 98.5% return if you make the space more efficient. A benchmark report from Remodeling lists the potential return as 80.5%.
4. Exterior Improvements
When people approach your home, what do you want them to feel? Remodeling’s benchmark report shows a 60.9% return for replacing your roof with a metal one, but you can see returns as high as 71.9% if you replace your front door.
Pro tip: Even a fresh coat of paint or a unique front door can boost your home’s curb appeal. It can also make you happier to come home every day.
5. Major Bathroom Remodel
A major remodel consists of either relocating bathroom fixtures and/or expanding the space. While this is a big undertaking, HGTV indicates that it could lead to a 93.2% return. Remodeling shows lower returns of 62.5%. That’s an average return of 77.9% between the two.
6. Major Kitchen Remodel
You can enhance a kitchen remodel by updating your kitchen countertops and adding an island, all of which could yield a 91% return according to HGTV, or a 62.1% return according to Remodeling.
Pro tip: The value of your home is an important consideration when remodeling your kitchen. You might need to update materials that you didn’t plan to update, like your countertops.
7. Exterior Additions
If you have space, HGTV recommends adding a deck, patio, or a porch, which can give you a 90.3% return. Remodeling shows a 55.2% return for a backyard patio, but a 75.6% return for a wood deck addition.
8. Replacement Windows
A relatively simple update you can make to your whole house is replacing the windows. HGTV says you could see a potential return of 89.6%, while Remodeling indicates that you might expect up to a 73.4% return for vinyl windows and a return of 70.8% for wood windows.
Pro tip: Consider several different types of energy-efficient glass. If you live in colder climates, you might have better results with one variety compared to someone in Texas.
9. Bonus Room Updates
Converting a bonus room into an office could get you a 72.8% return but adding a bathroom and a mini kitchen could boost that yield to anywhere from 86.4% to 100% in some cities according to HGTV.
10. Bedroom Updates
While it doesn’t yield lucrative results as some of the other projects, HGTV says updating your bedroom could still net a 52% return if you sell your home.
Pro tip: Update the lighting in your bedrooms to make spaces feel more open and install hardwood floors to both stay on-trend and make it easier to clean.
How to Finance Your Home Improvement Projects
Whatever home improvement projects you have planned for the year, you’re going to need to budget for them. A home improvement loan is one way you can finance your projects and it doesn’t require you to use your home’s equity.
Looking for a personal home improvement loan? Mariner Finance may be able to help you get the money you need to start your home improvement projects soon.
The information provided in this article does not constitute financial advice and is provided for educational purposes only without any express or implied warranty of any kind. This article is not intended as legal, tax, investment, or any other advice, and Mariner Finance does not offer credit repair services. Consider talking with an appropriate qualified professional for specific advice.
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