Create value with sweat equity
Every renovation project has its rewards and risks. When you manage the project yourself, extra care is required to ensure a quality job. A sweat equity project can be small or large. Simple cosmetic upgrades yourself can add thousands to the value of your home. At the other end of the scale, a major renovation may cost more in time and money than the house will be worth when it’s finished. When looking for sweat equity projects, consider some of these ideas.
Get organized! Inexpensive closet rack systems can make a small closet seem larger. In the kitchen, converting to a smart IKEA cabinet set gives you the opportunity to rearrange and make things more efficient.
Visit the ReStore to find like-new or re-usable items at a fraction of the cost for new. Home building stores will sometimes donate returned items instead of reselling them. Items such as light fixtures, sinks, doors, and windows are among the treasures you’ll find at ReStore. If you’re removing old fixtures, call them for free pick-up service and avoid tipping fees at the dump.
Do the demo and finishing work yourself to save some money. Removing drywall yourself to prep a site for your contactor can save a lot of money. Ask your contractor what you can do to help them reduce time and expense on the job. Finishing work such as trim or molding can be done by a homeowner with a minimum of training and tools.
With some planning and foresight, you can save money and build equity by doing some or all the work yourself. Questions about buying a home that needs some work? Contact us today for more information.