What investment would give the very best bang for the buck when it comes to home improvement?
I only have $1000, but (as a gift) I really want to spend it on my parents’ house. Where should I spend the money to get the best return on investment?
The house is livable, but getting old and everything about it (except the frame/foundation/roof) could use improvement.
We are in central Ohio, in case that makes a difference.
$1,000 won’t go far, but most experts say that the best investment you can make when remodeling is in the kitchen and/or bathroom. If the cabinets are old, consider getting them “re-faced” rather than replaced. Buy new appliances and make sure install/replace the garbage disposal. If they don’t already have one, a built in microwave will free up counter space and make the kitchen look a lot bigger. Install new flooring, preferably something that is low maintenance like no wax tile or wood laminate. If the kitchen is big enough, install a center island.
Again, you probably won’t be able to all of that with $1,000, but your money will go a lot farther if you can do the labor yourself. My dad bought his kitchen cabinets from Menards and installed them himself when he was 70 years old. I’m not that ambitious, so I personally don’t think I’d take on that kind of project.
Whatever you do, make sure it still goes with the rest of the house. If you go ultra modern in the kitchen, and the rest of the house is 80s country, it’s going to look out of place.
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I have no idea what kind of answer you want, but the age old adage is that money spent in the kitchen and bath is 100% recoverable. Now, kitchens and baths don’t matter much if you don’t have a roof, but that’s where you get the most return on investment. Have fun spending your grand! Stimulus!!
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paint and wallpaper are the easiest and least expensive things to change an old drab house into a new and improved house.
also,you could dress up the outside with a little landscaping such as flower pots and small shrubs.
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$1,000 won’t go far, but most experts say that the best investment you can make when remodeling is in the kitchen and/or bathroom. If the cabinets are old, consider getting them "re-faced" rather than replaced. Buy new appliances and make sure install/replace the garbage disposal. If they don’t already have one, a built in microwave will free up counter space and make the kitchen look a lot bigger. Install new flooring, preferably something that is low maintenance like no wax tile or wood laminate. If the kitchen is big enough, install a center island.
Again, you probably won’t be able to all of that with $1,000, but your money will go a lot farther if you can do the labor yourself. My dad bought his kitchen cabinets from Menards and installed them himself when he was 70 years old. I’m not that ambitious, so I personally don’t think I’d take on that kind of project.
Whatever you do, make sure it still goes with the rest of the house. If you go ultra modern in the kitchen, and the rest of the house is 80s country, it’s going to look out of place.
References :
Are the kitchens and baths serviceable? Is there anything that needs to be repaired that can be done with the $1K? That’s what I’d look at first. If the appliances and plumbing are working I’d look around some more. For $1K, with you doing the labor, you can repaint the interior of the house including the ceilings and wood trim. That will brighten the place up and make it more cheerful for your parents. If there’s money left over after buying the paint and supplies, go for a gift that will help them out. Think new microwave, coffee maker, toaster oven, etc.
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Use the money to buy a car and get a job so you can make real money
and fix that kitchen.
or
just invest it in solar stocks and make some real money.
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