As a parent, you want a home that is strong and capable of keeping your family safe. Thankfully, DIY repairs can provide you with the help that you need. Before starting these repairs, though, it is crucial to know how to get the most out of this experience. These tips will help you save money and produce the best overall look and feel for your home when renovating it.
Set (and Stick) to Your Budget
DIY repairs help to save you money by cutting back on hiring professionals. However, some people might spend a little too much if they don’t set a budget for their project. Interestingly, around 80% of all homeowners will stick to their home improvement budget, with 75% also setting aside money specifically for this purpose. But how do you create a budget that makes sense for your needs?
Think of how much you’re willing to spend and then research the costs of the materials needed for the project. Do you want the best quality materials, or are you willing to buy lower-quality items that may not last as long? The choice is ultimately yours. However, understand that lower-quality materials will eventually result in your project lasting less time than it would otherwise.
Focus on Aesthetics and Utility
The best home renovations are those that improve the look of your home and its overall utility. Essentially, you need to take steps to improve your home’s efficiency and design but which also add to its attractiveness. Doing so helps to kill two birds with one stone: you will make your home worth more money and enhance its overall look and appeal at the same time.
For example, steps like modeling cabinets, upgrading your countertops, adding a concrete finish, putting up a new backsplash, enhancing laundry room storage space, putting in a laundry pedestal, and adding efficient sink fixtures can help to improve both the aesthetics and usefulness of your home. When you focus on these steps, you get the most out of your renovations.
Find Improvements With a High Return on Investment
As a parent, you must make sure that your improvements add to the value of your home. This factor is known as return on investment or ROI. In essence, it indicates how much money you’re likely to get back in a sale due to these improvements. You want to aim for an ROI of around 70% or higher to get the best results. However, you may also find some improvements can reach as high as 90%.
For example, the average bathroom remodeling ROI is calculated to be around 70.1%. This ROI is based on an average cost of $19,134 with a return of approximately $13,422 on average. That said, you might also get more of an ROI on this improvement, based on your area and the improvements. Great options here for your include landscaping (an average of 100%) and bedroom conversions (around 93%).
Try to Keep Your Home Stronger
All of your home improvements should work to make our home stronger and more reliable. That’s because home repairs can cost around 1-4% of your house’s value annually. Unfortunately, this price is likely to increase as time passes. So, if your home costs $200,000, expect at least $2,000 to $8,000 in repairs and maintenance.
Focus on enhancing your home to minimize these overall costs. Start by paying attention to areas that you know wear down heavily, such as flooring, doors, and other high-use areas. Next, install new and more robust materials to make them capable of withstanding years of wear and tear issues.
When you follow these tips, you’ll feel like a better parent and provide your children with the home that they want and deserve. Make sure to work with professionals on any steps that might seem outside your range, such as severe and long-term roof improvement projects.
Leave a Reply