Renovate Wisely for Best Returns

April 26, 2012

Spend money wisely when renovatingEven if you aren’t considering

selling a home anytime soon, there are a lot of good tips when it comes to considering how best to invest in your house for good returns. Equifax real estate expert Ilyce Glink explains where to put your money for the best return in the article, “

Make the Most of Your Home Improvement Projects.”

The biggest return on investment for the short and long term is to replace the aging parts of your home. This means replacing your front door with a new one (many buyers prefer the security of a steel door), replacing old or damaged windows and getting new gutters are the way to go. While these are hardly flashy upgrades, they will add to curb appeal if you are looking to sell. If you aren’t, they will probably reduce operational and maintenance costs.

After the exterior, the next best place to invest in your home is the kitchen. New cabinets or a replaced countertop are a solid way to go, though very old appliances can also be a good way to make improvements that will increase the overall value. Just make sure you shy away from luxury materials. They take longer to appreciate value, and many buyers won’t want the cost of the update passed on to them. A good rule of thumb is to limit renovations to less than 20 percent of the home’s value to maximize the investment.

There are other tips for how best to use your money on improving your home in the full article on the

Equifax Finance Blog. Be sure to head over and check it out as well as the many topics of helpful

personal finance advice.

About The Author

Read All Stories By Mitch Levinson

Mitch Levinson is the author of “Internet Marketing: The Key to Increased New Home Sales” published by BuilderBooks. He is an Internet marketing expert with expertise in search engine optimization, website development, email marketing, social media and CRM consulting services. He is known for creating effective programs that can be tracked through analytics to prove effectiveness and ROI. Mitch is founder and president of MLC New Home Marketing and MLC FlatFee Realty, as well as managing partner of mRELEVANCE, LLC, a Marketing, Communication, Interactive agency with offices in Chicago and Atlanta. He currently leads the Chicago team. A Multi-Million Dollar Sales Producer who earned an MBA in Computer Information Systems and eCommerce, he brings a unique perspective and experience to the field of real estate communications. Mitch combines the two interests in order to help home builders and developers gain a competitive advantage through the Internet and technology. When he isn’t behind a computer, he enjoys participating in sports and coaching his kids’ teams. Mitch resides in Arlington Heights, Ill., a northwest suburb of Chicago, with his family, which includes two rambunctious labs. Visit my Google+ profile.

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