In 2018, which home improvement projects return the best value for the cost?
Looking to put your hard-earned cash, and maybe even some sweat equity into a home improvement project this year? If you’re like many Americans considering whether to tackle a home remodel or improvement, two common questions come to mind — “Which project will give me the biggest payback when I sell my home?” and “How do I afford this home improvement?” To help with those questions, we’ve put together this post from Remodeling magazine’s Cost vs Value 2018 report.
Here are a few key takeaways from the report:
- “Curb appeal” projects — ones that improve the look of the home’s exterior — create higher ROI than work done inside.
- Replacement — such as a front door, garage door or windows —as opposed to remodeling projects are given higher value by real estate professionals.
- The cheaper the project, the higher the payback.
- The hotter the real estate market, the higher the project payback.
- For more report highlights see what Remodel’s editor-in-chief has to say in this video.
While all of these factors and stats are helpful when choosing where to spend your home improvement dollars, your heart’s desire also counts — especially if you’ll be in your home for at least several years after the project’s completion. If you’ve been dying to update the bathroom or add a bar and media room to your finished basement, then, by all means, the personal enjoyment factor should weigh into your decision.
Here’s one last bit of advice: If the estimated price of your project and the amount you’ve set aside for it just don’t meet up, look to one of our personal loans to fill the gap. A loan from us is quick and easy to apply for, and we’ll work with you to come up with an affordable monthly payment that fits within your budget…because whether it’s a new bathroom or a kitchen that you need, we want to help you get the hammers swinging in no time at all.
LendingPoint is a personal loan provider specializing in NearPrime consumers. Typically, NearPrime consumers are people with credit scores in the 600s. If this is you, we’d love to talk to you about how we might be able to help you meet your financial goals. We offer loans from $2,000 to $25,000, all with fixed payments and simple interest.