Things You'll Need:
- Pen and paper
- Moderate handyman skills or cash in some friend favors
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Step 1
The first thing to do is to take stock of how much money you are getting and add to if any other money you may have budgeted for home repairs. After deciding what the maximum amount is, subtract 10-15% to use as an emergency fund since many home improvement projects go over budget due to unforeseen expenses.
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Step 2
Go through your house and make a home improvement check list. This is often helped along by bringing in a friend and having them walk through your house as if they were looking at it to purchase it. They will see some things you won't such as dingy windows, cracks in the paint, carpet that needs replaced, outdated bathrooms, etc. Many things you are comfortable with a new buyer would be appalled at so be ready to put your personal feelings aside!
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Step 3
Take the list and go shopping at the home improvement store. Put price tags next to the projects along with the notation of whether you are able to complete the project or would have to hire it done.
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Step 4
Next, compare the project price list with the amount of money you have to spend (minus that 10-15%) and make some choices. Obviously you are going to choose the projects you most want but there are some things to take into consideration. Try to choose things that will add value to the home; new appliances, a deck, new bathroom sink or fixtures, etc.
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Step 5
Make the purchases and complete the projects, then sit back and enjoy. You have just upped the value of your home (most American's biggest personal investment) and you have invested back into the American economy!
