Home improvements won't make you money
People like the idea of doing home improvements or remodeling a certain area of their home because they think they’ll make money when it sells. But Clark is wary of this kind of thinking. According to Money Magazine, a no frills bathroom remodel will make you 87 percent of the money you spent on the project. A no frills kitchen remodel will get you an 80 percent return. In the best examples given, you end up with about the same return. So, you want to remodel your home because you will enjoy the results, not because it will make you money. Make it fun, too. That means having a clear plan with and idea of exactly how much it will cost and exactly what materials you’ll need. If you make back 80 to 90 percent on a home improvement and you get to enjoy it, then it’s really worth it in the end. A story in Smart Money magazine reports that an outdoor fireplace will cost you about $6,000. Media rooms, indoor hot tubs, personal spas, granite countertops and cathedral ceilings are also popular improvement ideas.
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