Painting A Home And The Return On Investment
I closed on a house on Friday, and I painted the interior all day Saturday and Sunday. I’m exhausted, but it was well worth it. With the help of family and friends, we were able to put a great deal of paint on the walls and transformed a cold white wall interior to a warm, comfortable environment throughout the house.
If I were to pay someone to do the paint job, it would have cost over $2,000. Instead, for under $500 in supplies, we were able to get the job done, and it looks great.
What is my return on this investment? Well, according to various real estate publications, the return on an interior paint job is typically 72%. Well, that’s fine with me. More importantly, we have a great interior that we will enjoy living in for the next few years. If we live in the house 5-8 years, the $500 we spent to paint the house is well worth it!
While it is great to think about what money we will get back on the re-sale of the house, don’t lose sight of the time you will be living in the house! When thought of that way, the return goes way up!
We covered a ton of square footage this weekend, and we’re exhausted; but, at the same time, it felt great. It felt great to work hard on your own home and to add value (even if just a little) to something you own.
I’ll keep you posted on my journey to find little, affordable projects that can increase the value of my home. Yes, the days of making 50% ,60%, 70% and up on a home in a matter of years are over. However, I’m still convinced there are ways to unlock value and earn a nice return on real estate.
What ways are you trying to unlock value in your home? What projects have you found to have an impact on the re-sale of a house? Join the discussion by adding your comments.