| Hi Taylor:
I've got about $2,000 set aside for home improvements and I'm trying
to figure out the best way to spend it. I want all sorts of things
like a new TV and a new couch, but I wonder if something like new
windows or some sort of structural work could be a better choice in
the long run. Any thoughts about the best way to put my money to work?
Hi Marcia: I've got all sorts of thoughts on this issue, though
I haven't seen your home so you'll have to forgive any ideas that
seem terrible. Furniture and renovations can make for excellent improvements
and upgrades; you just have to make the right choice for your living
furniture you'll keep. A $2,000 couch can seem like an extravagant
purchase, but spending that money so you won't have to buy a replacement
for a few decades makes a lot of sense in the long run. If you
don't plan to stay in your current home for too much longer, I'd
say think about an improvement that you can take with you, such
as a couch or a nice carpet. TVs and other electronics become
dated pretty quickly and don't retain value, so I'd hold off there.
2. Give a small space a makeover. A couple grand can really
do a number on a bathroom or entryway. You can buy nice granite
countertops, paint the walls, get a nice mirror, and even replace
a sink basin for that money. The bathroom is a funny room since
it's out of the way but always in use, so spending a little on
these improvements will have a bigger impact on your day-to-day
life than you might expect. If you aren't sure where to begin
with this kind of renovation, head to one of the big hardware
stores and start looking at what they have on display. It shouldn't
take long for inspiration to strike.
3. Change up your lighting. If you own your home, new lights
will make things look better and help increase the value. Using
dimmable track lighting or modern pendants and chandeliers, you
can drastically change the aesthetic of a room without knocking
out a wall or ripping up the floorboards. New bulbs and fixtures
can also leave you with a more efficient setup, cutting back on
your utility bills and further increasing the resale value of
| As long as
you don't go with a total impulse buy, spending on home improvements
is a great investment. Take a tour of your home and figure out which
room you're most interested in redoing, and go for it!
© Taylor Kovar
September 14, 2020
More "Go Far With Kovar"
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