The first step is to identify the most important home improvement project. This will be your focus over the next year and should be a project that has a high ROI (return on investment). Once you have identified this project, start thinking about what other projects can be done in tandem with it.
Homeowners often make lists of fixes they want to do around their house. But many times they don’t know what should come first or second on this list. Here’s how to rank them so you’re not paralyzed by indecision anymore!
For example, if you are planning to replace your roof, think about how much energy efficiency improvements might help with its longevity as well.
What other home improvement projects can happen at the same time? Prioritize these things according to which will have the most impact on your home’s market value.
If you’re looking to make an investment in your home, then prioritize projects that will result in higher energy efficiency and increased comfort within the home. These are things like replacing outdated appliances or adding insulation, for example.
The first thing homeowners should do when they want to improve their homes is to determine what needs improvement by evaluating how old it is (i.e., does it need a new roof?).
Where there are problems with water infiltration (such as leaky windows), and whether there are other safety hazards present such as lead-based paint or asbestos?.
After prioritizing these areas for potential improvements, think about where you can add luxury features at a lower cost. These are things like getting a new patio or adding interior windows.
Once you have identified the projects that need to be tackled, then think about how long they will take and what else needs attention while these improvements are being made—you may want to tackle smaller jobs while bigger ones are in progress.
Wall off a workshop space, get it insulated, and install an efficient wood-burning stove. Construct a workbench, and you’ll never need to do any of the other improvements! Get some sturdy chairs in there too for planning projects that needs more thinking time.
Prioritize based on quality of life
Take a step back and think about the home’s features that are most important to you. The steps below will help you prioritize what needs work, but it is vital to consider your personal goals as well. For example: do you want more green space at home? Work on landscaping; would an addition increase your quality of life? Let this guide help you make smart decisions when considering renovation.
Step One: Determine Needs
Before anything else, figure out which areas need attention or improvement first by prioritizing based on their importance in meeting your lifestyle goals. Your list might be different than someone else’s list depending on where they live or how many children they have, for instance—and that’s okay!
Step Two: Determine Budget
Once you’ve determined the areas that need attention, it’s time to figure out how much work they will cost. This is where knowing your tax bracket can come in handy for future planning and budgeting! If you are unsure of what your gross income or taxable earnings are look at last year’s tax return and divide by 12 months.
Step Three: Plan Ahead For Ongoing Maintenance Costs
Now it’s time to prioritize with an eye toward ongoing maintenance costs. You may want to consider new appliances before anything else because of their often long life span whereas a new roof might only last 15 years (depending on quality). The goal here is not necessarily about saving money, as you might save money with a new roof, but about prioritizing how long the improvement will last.
Step Four: Determine What’s Most Important to You
Once you’ve prioritized what needs to be done, it becomes easier to zero in on the most important things. For example, if a new roof is your priority then anything else can wait until that has been taken care of. Once this goal has been achieved, move onto the next. Keep moving through these steps and never give up!
There are many home improvements worth considering but knowing which ones will make the biggest impact with regards to quality-of-life improvement may help homeowners decide where they should start first. The key is taking time out for research and being sure to prioritize what is most important.
What comes next? Do you have any potential projects in mind that need your attention? What are your thoughts? Share them with us below and tell us where you think we might want to start working on our own list of priorities.