6 Highest ROI Home Improvements That ADD VALUE
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- čas přidán 17. 09. 2021
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Today we explore the top 6 renovations that will make you money on your piece of real estate! Whether your real estate is your primary residence, a flip, or a rental - it's important to know what you will and won't recoup your renovation investments from. Also bear in mind - there is a HUGE difference between what will SELL a property and the type of renovations that you'll PROFIT from. For example, a kitchen renovation will help sell a house, but from a financial standpoint, it's highly unlikely you'll see all that money back. 🤷♂️
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- Joshua Butler
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Real estate is thought of by most as a stable, long-term investment. Get the most bang for your buck by being mindful of the return on investment the renovations in the video will provide (although they are averages and can vary greatly). If you're willing to DIY some of these projects, you'll likely see a great deal of sweat equity in your property.
*None of this is meant to be construed as investment advice, it's for entertainment purposes only. Links above include affiliate commission or referrals. I'm part of an affiliate network and I receive compensation from partnering websites. The video is accurate as of the posting date but may not be accurate in the future.
Clarification: the percentages in this video are percentage RECOUPED, not the return on investment percentage. Any renovation that falls below a 100% recoup percentage will technically be a negative return on investment. These figures are based on hiring out the renovations, meaning if you’re able to do the work yourself, you’ll increase your return on investment. However, remember, your time has value!
Semi gloss in bathrooms are also water repellants. My dad's house was all flat paint and every time someone took a shower in the guest bathroom, the ceiling and upper wall watered up. Within a year ,screw pops started becoming visible. Moist sheetrock will push nails and screws as it dries. You can also buy bathroom paint by BM that serves the same purpose. If you have high ceilings in the bathroom, the ceiling can be flat... but I would use eggshell to give at least some protection.
My dad paid $299,000 in 2017 for his new build house and when he died in 2021, we sold it for $489,000. I fixed all sheetrock issues, painted every room white, but two kids rooms in a color, had the HVAC tweaked, electrical issues fixed and made sure all appliances were working properly. I also discovered there was 600 sq ft that lacked insulation. In all, I spent $10,000 on the house, passed the buyers inspection at 100%, and made $110,000 profit after clearing the small mortgage he had and yada yada real estate BS.
Sorry to hear of your dad’s passing. I’m glad you were able to sell the house for a substantial profit. BM does make some nice paint…it’s the brand I always use for my house.
i think it depends a bit on what climate you live in. in sanfrancsico with the endless fog you really need something that repels water. in the desert where i am water is not much of a concern
People expect a home to be updated like people stitch to a new IPhone every year is ridiculous. I still have my original kitchen from 2005 and it looks excellent.
I try going with the more timeless designs where I can.
I got lucky and got a full renovated home, with everything new minus the roof. For 159k. 3b 1.5bath 1000sq ft
love this episode- great tips!
Those were great tips, thanks for sharing!
Supporting your channel as a fellow youtuber!
Pro tip: when spraying your cabinets make sure there's nothing behind them that can get over spray.
Love these. Thanks!
11:29 I highly recommend using an oscillating saw to remove old windows and trim. It takes a bit longer but is SOOOO much more precise than a reciprocating saw. I've seen even a skilled wood worker chew up a bit of siding due to the wobbly nature of the blades.
Helpful advice! I like!
Thank you!
FYI - 'Cost recoup' and ROI (return on investment) are different. The website you used for your data lists the percentages as 'Recouped', not ROI. ROI is a simple calculation that you can use to check this: ROI = profit / cost * 100. If you use this for the garage door example you provided in this video the profit is actually negative ( profit = sale value - cost). So the Recoup percent calculation is correct but the ROI is negative - any time the resale is less that the cost then you have a negative ROI. So the calculation for the profit is $3,663 - $3,907 = $-244 profit. And with profit we can calculate ROI $-244/$3,663*100 = -6.66%
Absolutely! Oversight on my end. This video is a couple years old now but I added a pinned comment for clarification. Thanks Calvin!
@@joshua.butlerthis comment made me subscribe, finding someone who realized their mistake and acknowledging it is rare
One of the best parts of retiring and buying my last home is fitting out, maintaining, and decorating exactly how I want without worrying about resale value or whether a would-be buyer will like or hate what I did. My heirs will be the ones with that issue.
That must be a beautiful feeling!
Very nice!
this video was so entertaining!
Thank you!!!
So my main takeaway from this video is if you're willing to DIY, you can double or more your money.
Pretty much! LOL. At the end of the day, it’s difficult to recoup the entire cost of renovations when you hire it out. Renovations will certainly help sell the house faster in most cases, however.
I don’t have siding. Should I add it to my South Florida house to add value?
Behr Marquis is my go-to paint. A bit pricey but is SOOOO good
I've had a long-standing desire to launch my own business performing house improvements. Considered which market to enter. Just because I currently work in the window industry does not mean that I am necessarily married to it. What additional niches, in your opinion, would be profitable to enter? Many thanks
Great content
Thank you!
add chapters
Sherwin Williams makes great paint, they also make cheap paint and everything in between...choose wisely
On replacing garage doors. DO NOT replace it yourself if it has a spring. Those are DEADLY! Many die each year trying to replace those themselves.
I do sales for a window and siding replacement company. Have been wanting to start my own home improvement company for a while. Been thinking what niche to go into. Not necessarily married to windows, just because I do them now, it has a very high competition. Curious on your suggestions, what other niches would be profitable to go into ? Thank you
Excellent video! Noticed you passed over any mention of bathrooms. Guess that’s a bad return on investment? Thanks!
The “smart home” features for me hit the nail on the head. Idk what accounts you have idk what keys you have. The home im looking at says the doors unlock through the app.. UH NO.😲😲 but everyone has their own opinions
💯
I’ve been in home construction for 20 years.
I would highly recommend to paint your bathroom at least semi gloss paint. Flat or matte paint causes stains and other issues.
If you don’t, you will regret it.
I would go with Benjamin Moore.
I always paint my bathrooms with Benjamin Moore flat/matte (usually regal select) and it's been great!
Location is the most important thing, but kitchens and bathrooms are definitely #2 & 3
Not going to be gutting my kitchen. New appliances and countertop for me. Maybe I'll diy paint the cabinets.
I did exactly that in my current house!
What about the ROI for a tray in ceiling?
I could see tray ceiling selling a home faster, but I don't see it being something that the homeowner would recoup full value from. Unfortunately, I don't see any data about tray ceiling in particular.
Paint sprayer is a great investment if you are careful!!! They overspray is a b*tch!!! Also another pro tip… marry someone super handy!!!
I've wanted to start my own home improvement company for a very long time. thought about the market to enter.
The Handyman is such a great channel to follow. He also has a second channel where he talks more about the business side of things. Highly recommend! www.youtube.com/@TheHandyman1
I thought higher sheen paints had a harder finish and are more water resistant?
Higher sheen is certainly considered more durable and easy to clean, but anything higher than eggshell on interior walls is really unattractive in my opinion. My preferred sheens are matte for walls (even my bathrooms) and semi-gloss for trim/doors.
They are. What is attractive to one person might not be a second glance to another. All that steam from a shower is being absorbed by the greatest towel in the bathroom--your sheetrock.
@@pruzzilla3771And if the moist is being absorbed into the walls, over time be expecting there to be potential mold issues inside the walls & possibly the attic.
@joshua.butler if you have mess making children who are potty training and majorly splash in the bathtub then you'll be grateful for satin or semi gloss bathrooms. But certainly if repatining for resale could choose another.
Make sure there is nothing behind your cabinets that can get oversprayed before spraying them.
Excellent tip!
As a stone mason please don’t do your own stone let alone fake stone it will fall off in 2 years and you will regret not getting an actual stone mason. But to each they own. Some stuff people should leave alone and some stuff is doable your self. Do the garage door before you do your stone. Lol
Samsung MUST get out of kitchen appliances, THEY are TERRIBLE. Never again!
Looking worse then before you started; feels like you were talking directly to me.
Can you explain what you mean?
@@joshua.butler my failure on being able to paint anything with a brush. :)
Rollers and spray guns help.
Hahaha. Painting with a brush is definitely a lot harder than it looks. I’ve seen some horrendous paint jobs out there. 😋
@1:53 ayoooo
Hahaha 🤷♀️
I have flipped 15 houses and helped lots of other people. I do NOT agree with much of what this guy says. BUT, if you do the work yourself, you will get a better pay back.
Yup I have a Samsung refrigerator and washer/dryer.. Never again.
Yeah. They're good at making TVs, but not so much home appliances. 🤷♀️
Left as soon as I heard your opinion on paint finishes
Byeeee 👋
Cats!! They always sneak by you! Did you say CreditFrog Tape?? Damn that's some crazy returns!!
Damn dude you’re diving into my OLD content!!! Credit 🐸 tape is the GOAT
@@joshua.butler Yes, Jump cuts!! Haha
he thought he could slip in a story pun and not have us notice smh 11:36
👀
I'm sorry who in their right mind would put flat or mate/eggshell sheen on interior walls that's going to be impossible to clean stick with a satin sheen on interior walls and be done with it satin is not that shiny and it's very easy to clean. Walls can receive scuffs and dirt build up overtime becoming harder to clean. Flat/eggshell is terrible for the vast majority of bathrooms due to potential moisture buildup and humidity . Trying cleaning mold off of the bathroom ceiling due to rising moisture from your shower it's going to potentially stain your walls use a satin if you don't want a semi gloss sheen to be safe.
I've been rocking flat for the past 12 years, even in bathrooms. I agree that it's a bit harder to clean, but not enough so to prevent me from using it. It looks better IMO. BUT, to each their own 😉
@@joshua.butler I'm glad flat paint works for you but respectfully not everyone lives in the same climate as you do some places are more humid then others and humidity attracts mold. Simply recommending a flat paint sheen/eggshell in a bathroom or kitchen without considering that is simply false and short sided respectfully.
Flat paint?? 😅
absolutely. Eggshell is the highest sheen I'd use, but flat/matte is my preference. What do you prefer?
Anything that isnt over 100% ROI is a waste of time and money. Just sell your house. It might make your house sell fastet but if its not giving you a return over your money its not worth doing. You are literally spending time and money to give it all to your buyer. You might as well give them a discount and save yourself the labor and time.
By the sounds of it… renovating your home isn’t profitable - aside from painting and garage doors
It’s really not…unless you can do the work yourself. But even then, your time/energy has value which needs to be factored in. The one upside is that renovations will likely help your property sell faster.
As a stone mason please don’t do your own stone let alone fake stone it will fall off in 2 years and you will regret not getting an actual stone mason. But to each they own. Some stuff people should leave alone and some stuff is doable your self. Do the garage door before you do your stone. Lol😂
For sure! It's definitely important to realize your own limitations and know when to hire it out 💯
GET A WOOSTER
Ain’t no way you just recommended flat paint to people lol that’s the worst one. If you’re thinking of painting yourself, use eggshell or satin. Flat is incredibly difficult to clean and scuffs very easy
Your passion for paint sheens is inspiring!
@@joshua.butler it’s kinda common sense man. I’m not even a painter, just a homeowner. Eggshell, satin, or semigloss are your best options for interior
Almost everything in this video has been a complete inverse of the ROI home upgrades I've seen from major real estate people. I became skeptical when he said painting the walls would increase the home value, and i completely wrote this video off when he said to use flat or matte paint, including the bathrooms. This is all terrible advice 😂
Most of the information in this video is based on National cost vs resale data. Matte looks better. Nobody wants semi gloss walls. The highest I’d go in the bathroom is eggshell if you have humidity issues.
Americans and their superior yet expensive health care. Cringe.
🦅🦅🦅
Sorry but this video is full of way to much don’t thank do. Painting with all the equipment he suggested is way too costly. You can do the same with way much less cost. LG is not the best and Samsung has done well. Semigloss in bathrooms is a good idea, specially if you have a small bathroom. Moisture is very bad for your wall. So protect them with a repellent. I have Samsung appliances that have lasted over 10 years and still going. People love love automation. Anything that they can control with their phones or tablets is always a plus, specially when you have kids. DYIng project (if you can) is worth the savings. Many projects cost more in labor than in materials. HGTV has conditioned people to think the most important selling point is the kitchen and bathroom. White, however is not the only color you should go with in the kitchen. It all depends on the style of your home, the color of your walls, and the type and color of floors. Use your judgement.
Love these. Thanks!
I appreciate you watching ☺️
So my main takeaway from this video is if you're willing to DIY, you can double or more your money.
It really is the best way to get value back, assuming your DIY work is of decent quality. Don't forget to place a value on your time, however!
Yup I have a Samsung refrigerator and washer/dryer.. Never again.
😕