The Best ROI in Home Renovations: Paint!

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When it comes to home renovations, dollar for dollar the best return on your investment would be… drum roll… paint. Yes!

It is said that a gallon of paint is worth $5 in the can and $50 on the wall. When a home is painted, holes, nicks, scratches and stains are eliminated as well. In fact, it’s challenging to decide the age of a home. A fresh coat of paint with modern colours obscures its age.

Window’s though will not give you the same return. For two main reasons. Number one, a home is expected to have windows.. just like its expected to have a roof. and number two.. when you replace a window, you’re also throwing out a window. That window has a value. The value must be subtracted from the total cost of replacing a window.

So you see, the value of your home will increase but not to the full replacement cost of the window. The window you through out had a certain value.

Don’t believe me? Imagine you see two older homes for sale. One has original windows, the other has their windows removed. They are asking the same price. Which home would you buy? of course the home with the original windows.

What if the home with the original windows was priced higher? The increase equals the cost to install new windows. Which home would you buy then? You might say you would offer less or you might offer less on the home without windows. This should give you a sense of the value of a used window.

Renovating a home can be a rewarding experience. It can also be costly if you do not understand the market values. Remember to use the services of a professional whenever you’re thinking of renovating a home to sell or to enjoy.

#Home Renovation #Painting Tips #House Value #Real Estate Investing #Home Improvement #Smart Renovations #DIY Projects #Property Value #WBN News Vancouver #Tom Ikonomou

Contact Tom Ikonomou through his website: https://tomikonomou.exprealty.com/ or visit him on LinkedIn.