5 Doable DIY Projects To Send Your Home Equity Soaring
It is a well-known fact that DIY home improvement projects will help you save money.
However, were you aware of the extent to which cutting professionals out of the equation can result in saving half the cost of a project or potentially even more?
In addition, you receive a substantial return on your investment. This implies that the monetary value obtained from a DIY project surpasses the initial input.
#1 New Steel Front Door
A new steel entry door is one of the replacement projects that offers considerable benefits. By professionally installing this door, not only can you expect to recoup around 75% of the cost, but it will also greatly enhance your home’s curb appeal. The validity of this claim is supported by the “Remodeling Impact Report,” where a significant majority of homeowners (96%) express contentment with their newly installed front door.
If you decide to handle this project on your own, you will save more money. Before starting, make sure you are familiar with the different parts of the door, such as jambs, threshold, and stops. Since you will be installing a pre-hung door with jambs, you will need to remove the previous components. If possible, try to keep the existing casing (trim) that surrounds the door. If not, be prepared to purchase new casing.
If You Hire | If You DIY | ||
Cost | $2,000 | Cost | $250 |
Recoup at sale | $1,500 | Recoup at sale | $1,500 |
% recoup | 75% | % recoup | 600% |
If it is your first time, it would be beneficial to have a friend or spouse assist you with this task. The process may take approximately six to eight hours. Always keep in mind the key principles of door installation, which are being vertically straight, horizontally even, and having right angles.
#2 New Garage Door
Are you exhausted from seeing the empty billboard every time you arrive at your driveway? Swap your old garage door for a sleek new steel version, and the entire neighborhood will express gratitude. You can also save money by retaining the same motorized opener.
If You Hire | If You DIY | ||
Cost | $2,300 | Cost | $850 |
Recoup at sale | $2,000 | Recoup at sale | $2,000 |
% recoup | 87% | % recoup | 235% |
If you think step by step, you can rephrase the given text while keeping the same meaning as follows: A steel garage door consists of four panels that are relatively lightweight yet cumbersome. Enlist a friend’s assistance, and completing this project will take only a day. Subsequently, take a step back and appreciate it, just like 95% of homeowners mentioned in the “Remodeling Impact Report” who expressed their contentment or satisfaction with their recently installed garage door.
#3 New Vinyl Windows
If you need to replace four or more windows or a window on the second floor, it is advisable to hire professionals for the job. It is not suitable for non-professionals to be on a ladder with a window as it can be risky. Professionals provide scaffolding, which may require some time to set up but ultimately ensures quicker and safer work.
If you need to replace only one, two, or perhaps three first-story windows, it can be effectively done as a DIY project. However, if there are more windows to be replaced, it is advisable to hire professionals as they will complete the task more efficiently in terms of time and inconvenience.
If You Hire | If You DIY | ||
Cost (per window) | $556 | Cost (per window) | $250 |
Recoup at sale | $444 | Recoup at sale | $444 |
% recoup | 80% | % recoup | 178% |
If you have accurately measured the rough opening and purchased the appropriate window, it should take you approximately three to four hours to complete the installation of one window. As you continue installing more windows, you will become more efficient and complete the task in less time.
#4 New Wood Flooring
New wood flooring is one of the most rewarding projects in terms of satisfaction and high investment recovery. Based on the “Remodeling Impact Report,” 96% of homeowners expressed happiness or satisfaction with their hardwood floors installed by professionals. Coupled with a 91% return on your investment, this can make you a content and delighted homeowner.
The techniques for installing hardwood flooring are fairly easy to master, making it a bit labor intensive for the DIYer. Once you get the hang of it, the installation of prefinished hardwood flooring should go smoothly.
If You Hire | If You DIY | ||
Cost | $5,500 | Cost | $1,770 |
Recoup at sale | $5,000 | Recoup at sale | $5,000 |
% recoup | 91% | % recoup | 282% |
#5 Insulation Upgrade
Although it may not be the most alluring project, having it concealed in your attic, it undeniably brings about enhanced comfort and noticeable savings on your energy expenses, which are significant advantages.
By upgrading an attic space with inadequate insulation, you can achieve energy cost savings of up to 50% annually. It will take a minimum of a few years to recoup the $2,100 investment if you hire a professional. On the other hand, if you choose to do it yourself, you would only need to spend approximately $700 on enough 10-inch-thick fiberglass batt insulation to cover a 20-foot-by-40-foot attic space. Consequently, you will be able to enjoy the savings much earlier.
In addition, this project can be inconvenient, disorganized, and require you to wear protective clothing. Nevertheless, insulating your attic is a task of minimal expertise that can be successfully accomplished by most DIYers. Just remember to avoid accidentally damaging the drywall located beneath the attic floor joists with your foot.
If You Hire | If You DIY | ||
Cost | $2,100 | Cost | $700 |
Recoup at sale | $1,600 | Recoup at sale | $1,600 |
% recoup | 76% | % recoup | 229% |