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How can home improvements actually save me money?


If you’re considering home improvements, look for projects that are cost-effective -- and you’ll save even more money by doing the work yourself.
If you’re considering home improvements, look for projects that are cost-effective -- and you’ll save even more money by doing the work yourself.

­To improve or not to improve -- that is the question. In this economic slowdown, you might be questioning all the things you've wanted to do in your home but never got around to. Home improvement could be one of the projects you're putting on hold because of your tightened budget. But before you make that decision, you should know that not all improvements are created equal. Some are big money-drains that won't be advantageous to you or anyone who purchases the house from you. These so-called "improvements" can actually decrease your home's value. To avoid money-sucking repairs, make sure to consider only the improvements that will help your home's value.

­So -- what are these moneysaving improvements? Good question. Not everyone agrees on the particulars. You should research what kinds of improvements will provide you with a good return when you sell the house. Look for projects that are cost-effective, giving you more money back than you put in. Investigate how much a particular project will cost and compare it with the typical return of such a project. Of course, you'll save even more money if you can take care of the improvements yourself. If you have the skills and knowledge, you'll eliminate the cost of labor.

Click to the next page to find out some specific project ideas that make for cost-effective home improvements.


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