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Which Home Improvement Projects Have The Highest ROI?

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As a real estate agent and trusted adviser, clients likely often reach out and ask your thoughts on home improvement projects to get a better sale price for their home.

Lucky for you, Remodeling Magazine just released its 2017 Cost Vs. Value report to help you answer these questions.

The report “compares average cost for 29 popular remodeling projects with the value those projects retain at resale in 99 U.S. markets.”

Use the findings below to help clients who are looking to add value to their home or get the most for ROI for their fix-and-flip.

Top performers: Midrange

The report showed that the average properties within the median range had three of the five projects with the highest returns. These three projects also had the lowest cost incurred.

None of them had a higher performance than last year due to the material and labor costs rising faster than the deemed value.

Projects with minor remodeling work such as replacing windows and doors yielded a higher profitability in comparison to those that required internal work, such as cupboards and countertops.

Below is a summary of the top five midrange projects outlining the scope of work and the average cost, resale value and return on investment:

Project details Average cost Average resale value Average ROI
Installation of attic using fiberglass $1,343 $1,446 107.7%
Steel entry door replacement $1,413 $1,282 90.7%
Manufactured stone veneer $7,851 $7,019 89.4%
Minor kitchen refurbishing $20,830 $16,699 80.2%
Replacement of garage door $1,749 $1,345 76.9%

Top performers: Upscale

In comparison to projects within the midrange, properties that underwent significant renovations such as grand entrances, family room, high-end bathroom renovations, opulent master suites and multistory additions had the , rising from 5.6 percent to 7.4 percent.

This is as a result of the value exceeding the cost incurred to renovate the property. Consequently, more experienced investors are now opting to invest in higher value properties as the market recovers.

Below is a summary of the top five upscale range projects outlining the scope of work and the average cost, resale value and return on investment:

Project details Average cost Average resale value Average ROI
Garage door replacement $3,304 $2,810 85%
Fiberglass entry door renewal $3,276 $2,550 77.8%
Vinyl window replacement $15,282 $11,286 73.9%
Wood window replacement $18,759 $13,691 73%
Fiberglass grand entrance $8,358 $5,855 70.1%

Location

Another factor for consideration is the location of the property. Location impacts both the cost and the value of the property. This is on the basis of supply and demand. For areas of higher demand, there will commonly be a higher return on investment.

Overall profitability

The Cost Vs. Value report found that there was an average return of .

The potential return of a project will depend on several factors including the nature of the project, upscale versus midrange,  as well as the base cost incurred. But there is money to be made by smart homeowners and flippers on the sale of their home.

Alana Douglas is the owner of Realtor Douglas in Imnhaha, Oregon. Follow her on Twitter or Google-Plus.

Source

https://www.inman.com/2018/01/18/which-home-improvement-projects-have-the-highest-roi/

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How to Spend More Wisely on Home Improvement Projects

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kitchen remodel is $20,474 according to Home Advisor and can go as high as $49,000 for more elaborate projects.

Instead, upgrade your existing fixtures and furnishings. Replacing drawer handles and sink faucets, updating tile counters and floors, installing new light switches and electrical sockets, and making other simple improvements can bring new life to a room and significantly lower your costs. Refacing or refinishing your kitchen cabinets, for example, can cost about one-third less than replacing them according to Angie’s List.

Do what you can yourself

Given how much of home improvements costs are for labor, doing the work yourself is an easy way to save money. Smaller projects like repainting, adding new cabinet hardware, or changing electrical sockets or switches or light fixtures can easily be done on your own with the help of some online instructional videos. Before tackling any electrical work, though, be sure to consult with an electrician.

Even in a more comprehensive renovation such as a bathroom, you can DIY the cosmetic portion, like the paint and fixtures, while leaving the plumbing to a professional.

A DIY approach can also save you money on materials. By purchasing them yourself, you’ll avoid a contractor’s markup, and you can save even more by choosing solid mid-grade materials over premium options.

Know when to call the pros

If you lack the required time or skills, a DIY approach can actually backfire and cost you more in the long run. And projects involving electrical work, gas lines, plumbing, and anything else that poses a risk to you or your home, should always be done by a professional.

The best way to keep costs down when hiring a contractor is to find one who is reliable and has a track record of quality work. It’s generally recommended that you interview at least three contractors and pay attention to how punctual and organized they are. These personal details can be an early sign of whether or not your home improvement project is completed on schedule.

Also, make sure you’re hiring the right contractor for your job. The one who refaced your neighbor’s cabinets may not be the best choice to update your bathroom plumbing, and that could cost you more down the road. And always make sure any contract you sign includes estimates, deadlines, and the materials to be used, and update it in writing if the project details change.

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https://blog.schneider-electric.com/residential/2018/01/17/spend-wisely-home-improvement-projects/

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Form Meets Function in an Impressive Bathroom Renovation

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A note from our editors: Thank you so much for all your support of Rue in 2017. Before we launch into new content for the new year, we wanted to share the posts of 2017 according to you, our readers! So we’re republishing our ten most popular posts, including this one. We hope you enjoy it!

For Kim Penrose and her husband Nathan, their bathroom renovation was an exciting undertaking. “We wanted it to look great because it is the only bathroom on the living level so everyone sees it,” Kim says. “It is our master bath as well as the guest bath.” Collecting ideas online, from places like Pinterest and Houzz, they decided to only include pieces they loved, knowing it would all come together in the end. Cement tiles make a bold statement while exposed plumbing adds an industrial element they love. At the Rue HQ, we fell in absolute love with the beetle kill wood paneling on the ceiling! In fact, it’s the unique mix of materials that make this one impressive renovation. Take a look at the shocking before & after in the slideshow, and check out our interview with Kim below to learn more about the project:

The transformation is amazing! What were your top priorities (function-wise) in the renovation?
We had a small space to work with so our top priority was to make the most of it. Taking the tub out and adding the stand up shower as well as doing a smaller scale sink helped to accomplish that.

What was your initial vision (aesthetic-wise), and how did you bring it to life?
Our home is a 1936 brick Tudor style home. We really wanted something vintage, but modern. We fell in love with the cement floor tiles and that was the starting point. The subway tile would have been around in 1936 when the home was built. The exposed plumbing in the shower and the open vanity stand gave it a vintage feel that was in line with the integrity of the design in the rest of the home. We had a vision for the overall bathroom and just went “in search of” for each piece. The bowl and teak countertop were originally intended to be wall mounted, but we took it to an awesome metal sculptor in our neighborhood who made our sketch come to life and we set the teak countertop in the stand.

We know renovations never go as expected. What challenges did you face, and how did you overcome them?
Since we have an older home, we expected some challenges. We had to replace all of the galvanized plumbing. We took an old trunk closet that was in the adjoining bedroom and cut it in half to gain more space for the bathroom, but then had to relocate the attic access.

We love the mix of materials! Tell us about that idea.
We were very eclectic in our design. We don’t worry about matching finishes or materials. We just go for what we like and it just seems to work! We love the industrial look of old downtown lofts and the mix of cement, Beetle kill wood ceiling and metal made it feel a little more industrial. The black marble tile on the shower floor and in the cubbies is a fun addition to add an elegant touch and dress everything up.

What do you love most about the bathroom’s design?
We love that we were truly able to bring our vision to life. We love the contrasting colors, the simple elegance and the way the design opened that space. We want people that saw our old bathroom to be blown away and they are!

Source

http://www.ruemag.com/home-tour-2/rooms-we-love/form-meets-function-in-an-impressive-bathroom-renovation

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Make Plumbing Home Improvement Upgrades in 2018

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Plumbing Upgrades This New Year

How do you feel about your home’s plumbing? Are you looking for ways to improve your plumbing in 2018? If so, these tips can help you make upgrades to get the plumbing you’ve always wanted. From pipe insulation to garbage disposal installation, we can help you improve your quality of life in the new year.

Insulate Your Pipes

Pipe insulation helps shield your home’s pipes from cold air and also helps keep warm water in your pipes. Insulation can prevent your home’s plumbing from freezing this winter. Fortunately, pipe insulation is easy to install, and can easily be completed as a DIY project.

If you’re a homeowner who would like to install your own plumbing insulation, first measure the diameter of your pipes. You’ll then need to purchase insulated sleeves from your local home improvement center. You’ll use a utility knife to cut down each sleeve to the right length, and then peel off the adhesive backing inside the insulation. Wrap the insulation around the pipes until the insulation is stuck in place. If you don’t feel up to installing your own pipe insulation, seek help from a local plumber.

Install Low-Flow Toilets

Surprisingly, old toilets can use as much as , whereas low flow toilets typically use around 1.6 gallons per flush. Replacing an old, water-inefficient toilet with a new low flow toilet is a good way to save money and reduce water waste.

Homeowners who wish to replace their old toilets with a new low flow model can easily do so for about $175, plus the cost of installation. However, homeowners who don’t feel like they can swing the cost of a new toilet can instead fill a plastic container with pebbles, then place the container in the toilet tank. This displaces the water in the toilet and ensures that less water is used with each flush. This is a temporary solution that can help save water until you can install a low flow toilet.

Install A Garbage Disposal

A garbage disposal is a wonderful convenience that can make cleaning up easier and faster. If your home doesn’t have a garbage disposal, installation should be a simple task for a certified plumber. If you live on a property with a septic tank, be sure to buy a septic-tank safe disposal instead of a standard unit. Regular garbage disposals can cause clogs in septic tanks,  requiring your septic tank to be pumped more frequently than would otherwise be necessary.

Repipe Your Home

Older homes are known to have pipes made of galvanized steel, iron and even lead. These older pipes can be leaky, dysfunctional, difficult to repair or even toxic to humans. Repiping your home can improve your property value, while making plumbing repairs easier, and reducing chances of pesky pinhole leaks.

Repiping is an excellent home improvement project to pair with bathroom remodeling too, because repiping frequently requires the homeowner to put holes in the walls. If you’re thinking about remodeling your bathroom this coming year, talk to a plumber about having your pipes replaced.

Get An Inspection

Wondering what else you can do to improve your home’s plumbing functionality in 2018? Contact a plumber to get a professional inspection of your home’s plumbing. Your plumber can help you decide what still needs to be done to your plumbing to ensure it is working smoothly.

Contact Your Plumber in Pittsburgh

As your plumber in Pittsburgh PA, Terry’s Plumbing is your source for new pipes, low flow toilets, garbage disposal installation and other plumbing upgrades. To get started with your plumbing improvements, at 412-364-9114.  

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http://www.superterry.com/plumbing-upgrades-new-year/

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Home Improvement Hacks to Start Your Year Organized

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The new year has arrived, which only means one thing —it’s resolution season!

From starting a garden to designing the home office space of your dreams, these mini projects combine everything resolutions are all about: Increasing productivity, trying something new, and getting those creative juices flowing.

Here are five home improvement resolutions to make for 2018 that your future self will definitely thank you for.

Organize Your Shelves

organize fridge htl

(Photo Credit: Chris Warnes)

Start with the spaces you use the most: Organize your fridge, clean out kitchen cabinets, declutter your bookshelves, and go through your closets. Now is the time to curate those shelves and go crazy with your label maker.

Try arranging books by color or investing in a collection of mason jars. Not only will the spaces look more visually pleasing, but having everything in an easy-to-navigate system will save you time and minimize stress — especially if kids are in the mix.

Start a Garden

organize garden htl

(Photo Credit: Claire Takacs)

Start small — a vegetable patch, vertical herb garden, or compost pile are great for beginners, especially if you have kids.

If an outdoor garden doesn’t suit your lifestyle, consider low maintenance indoor plants that are hard to kill such as a lush lady palm or statement making yucca.

Decorate Awkward Spaces

awkward spaces htl

(Photo Credit: James Henry)

Whether it’s an awkward space under the stairs or a narrow hallway, pay a little more attention to the spaces in your home that have been forgotten or neglected.

Small spaces can often accommodate a nice table or bench — add a stool and transform an awkward space that looks great and adds functionality.

Restore Old Furniture

organize mirror htl

(Photo Credit: James Henry)

Save money, recycle, and give your home a truly unique touch by restoring old furniture. Sometimes all you need is a new coat of paint and some updated hardware.

eBay and garage sales are great places to find unique items that can be transformed with a little creativity. The vanity pictured above was an old antique. It was easily updated by inserting a bowl and modern tap ware.

Optimize Your Home Office

home office htl

(Photo Credit: Andrew Finlayson)

Whether it’s a tiny nook or a dedicated study room, utilize areas with plenty of natural light. If you find yourself doing the brunt of your tasks here after dark, invest in pendant lighting and decorative desk lamps.

Never skimp on seating — get a chair that is stylish, functional, but above all, comfortable. You should also get a desk with plenty of space.

Lastly, organize your storage space, mark your yearly calendar with important dates, get the label maker out, and tackle paperwork. Your future self will thank you come tax season.

This post was written by Nikki Chowdury. For more, check out our sister siteHomes to Love.

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Source

http://firstforwomen.com/posts/home-improvement-resolution-2018-150863

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