Projects to Improve your Home - Which Ones Save You Money, and Which Ones Cost You Money

Projects to Improve your Home - Which Ones Save You Money, and Which Ones Cost You Money

If you're like the average homeowner, you view home improvement with a bit of trepidation. On one hand, the end result is often quite rewarding, but on the other hand, it can be pricey to get there. Also, your home can be in a bit of a mess while you are tackling the project, unless you stash some of your belongings in self storage units temporarily. As you are considering what to tackle on that "to do" list, consider the projects that will save and the projects that will cost more than they are worth.

Projects to Save Money

Projects that improve the energy efficiency around your home will help save you money. Adding insulation, upgrading your appliances or removing drafts with an extra layer of caulk all save you money in the long run, because they lower your energy bill. For instance, changing your entry door to one with fewer drafts can provide an 86 percent return on investment over time, according to Remodeling Magazine. That's substantial savings.

Preventative maintenance can also help you save money. Repairing a small crack in your foundation can eliminate the high cost of a serious crack or leak. Having your gutters cleaned professionally costs about $182, compared to a nearly $400 cost for downspout and gutter repair, according to Lifehacker.

De-cluttering is another project that can save money, and maybe even earn you some. Gather up belongings you are no longer using, and stash them in a cheap self storage unit until you can have a garage sale. By not having those things around your home, you won't be tempted to spend money on maintaining them. With mini storage units, you can affordably stash those items for a little while.

Finally, don't forget about projects that add to the value of your home. Remodeling your kitchen or adding a deck, for instance, will help improve your chance of selling successfully, and for a good price, when the time comes to sell your home. When tackling a major improvement inside your home, like a kitchen remodel, be willing to put some items in a cheap self storage unit to get them out of your way and save your sanity.

Projects That Cost Money

Some projects, no matter how much beauty they add to your home, end up costing substantially. Before you invest in these, you will need to determine if they are something that will add enough value to your life to make the cost worthwhile.

One of these is adding a home office or other specialized room, like a music studio. While you might want an area to work at home, your potential buyer may want a bedroom. If you are going to spend the money to add a room, make it one that can serve as both an office and a bedroom.

Adding a bathroom may seem like a value-adding addition, but US News indicates you will only recoup about 60 percent of that cost. That's because this particular renovation costs nearly $40,000. the added value is nowhere near this amount.

As you consider the home improvements you are going to do around your home, don't forget about the long-term financial benefits or drawbacks. As you tackle these projects, consider using mini storage to house items you aren't using or that you need to move during the remodel. With extra furniture and stuff safely in self storage units, you can focus on finishing the project in a timely manner so you can enjoy its rewards.