When it comes to home renovations, everyone wants to ensure they get the best bang for their buck. But what if we told you that some of the most rewarding renovations might not be the ones you expect? In this blog, we're going to delve into the world of home improvements, using insights from a helpful video by Josh, the host of "Budgeting with Butler." Let's explore six home renovations that offer the most significant return on investment.

1. Painting Your House Inside and Out

Josh emphasizes that painting can be a remarkably rewarding renovation project. It's a classic and relatively affordable way to refresh your home. According to his research, painting the interior of your house can yield a whopping 107% return on investment, while painting the exterior provides a respectable 55% return.

Josh also shares some practical tips for a successful painting project:

- Always stage your paint project on a drop cloth to avoid mess.

- Know your sheens: flat or matte for interior walls, flat white for ceilings, and semi-gloss for trim.

- Use quality paint, such as Benjamin Moore Regal Select or Sherwin-Williams.

- Consider cutting in with a brush for clean lines or use green frog tape for taping.

- Invest in quality painting equipment, like a solid brush, a sturdy paint roller, and a retractable paint pole.

- Properly clean and store your painting equipment for reuse.

2. Smart Home Equipment: A Not-So-Smart Investment

In the age of smart homes, many homeowners wonder whether decking out their property with advanced tech will increase their home's value. Josh cautions against this trend. Although it may seem appealing, the truth is that most potential buyers may not share your enthusiasm for new-age technology. In fact, some buyers might request that you remove these high-tech features. Josh advises removing them and taking them to your next house, as the hassle might not be worth it.

3. Replacing Your Garage Door

Replacing your garage door is another renovation project worth considering. On average, it provides a 93.8% return on investment. However, Josh suggests that DIY might not be the best approach for this task, as professionals can complete it quickly. To determine if your garage door needs replacing, check if it's malfunctioning or old and worn. A new garage door can significantly enhance your home's curb appeal and boost its overall value.

4. Manufactured Stone Veneer

Manufactured stone veneer can add a touch of elegance to your home's exterior. This project offers an impressive 92.1% average return on investment. The cost varies, but DIY can save you a significant amount, as long as you're comfortable with tools like wet tile saws or angle grinders. It's an excellent way to enhance your home's curb appeal without breaking the bank.

5. Minor Kitchen Remodel

Renovating your kitchen can be a double-edged sword in terms of return on investment. A minor kitchen remodel, where you retain the same layout but update finishes, fixtures, and appliances, provides an average return of 72.2%. Josh acknowledges that this might not seem like a substantial return, but there's a solution: DIY. By doing it yourself, you can recoup over 100% of your costs, making it a smart choice for budget-conscious homeowners.

Josh's DIY tips for a minor kitchen remodel include:

- Replacing cabinet doors with white shaker style fronts or painting existing cabinets.

- Updating hardware with new and timeless handles.

- Installing white quartz countertops, preferably by professionals.

- Choosing a durable and attractive flooring like luxury vinyl plank or tile.

- Opting for LG appliances and avoiding Samsung.

6. Siding Replacement

Siding replacement can have a substantial impact on your home's value. Fiber cement siding offers an average return of 69.4%, while vinyl siding provides 68.6%. Although the cost varies, you can save money by DIY if you're comfortable working on a ladder. Proper research and safety precautions are crucial to ensure a successful project.

7. Window Replacement

The final renovation on our list is window replacement. For vinyl windows, the average return is 68.6%, and for wood windows, it's 67.4%. While wood windows may cost more, Josh recommends vinyl unless your area specifically calls for wood windows. DIY window replacement can be a viable option for those comfortable working with tools and heights.

In conclusion, these home renovations can provide substantial returns on your investment. However, it's essential to consider your DIY capabilities, budget, and the specific needs of your home. Knowing your limitations and making informed choices will help you make the most of your home improvement projects. If you're looking to boost your home's value and appeal, these renovations are a great place to start. Don't forget to consider your preferences and local real estate trends when making your decision. Good luck with your home renovation journey!

Source: https://www.youtube.com/watch?v=xzA-d9lKCgw&ab_channel=JoshuaButler-CreditCards%26PersonalFinance



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