Denver - The Colorado Garden and Home Show kicks off Saturday at the Colorado Convention Center and runs through Feb. 23.
This can be a great place to get home improvement ideas and find someone to do the work. Picking the right projects can add value to your home.
Realtor Wade Perry says before you decide which projects to do, you need to figure out how big of a project you can handle. "There are two really big parts of the budget you have to look at. They are the financial and emotional costs. Ask yourself, 'How much of my house am I comfortable having ripped up?''
Perry says the three types of home improvement projects are:
- Lipstick: carpet and paint
- Botox: knocking down a wall
- Plastic Surgery: moving electrical and plumbing
Perry also advises you pick projects which help your resale value. Inside your home, those projects are:
- Repaint, especially with light, bright colors
- Replace carpet
- Refinish hardwood floors
- Remodel your kitchen
- Remodel your bathroom
"On the kitchen and bath, you are looking at a 68 to 72 percent return on your investment," says Perry.
Outside of your home, Perry says consider adding a deck or patio. "That to me is one of the smarter places to put your money. Everybody likes to have one and more importantly, you are going to enjoy living in your house more."
You may also want to replace your:
- Front door
- Garage door
Perry cautions not to get too carried away. While some projects are nice, they may actually hurt your resale value or end up costing you a lot of money in the long run. They are a:
- Swimming pool
- Jetted tub
Prices for these projects can vary widely, but Perry says don't automatically think you can't afford them. "Because commodity prices have dropped so much, right now, we're looking at probably the least cost that you would have over the last 5 years to get these projects done. Another way to go about this is to talk with your insurance carrier, especially if you need a new roof or siding. You also might want to talk with your financial adviser about a 203K loan. This is a loan that is backed by the FHA and approved for a lot of different types of projects and it even comes with tax benefits."
Perry says the most important thing to remember with any project is this: "Design it, both in budget and fixtures, around how you are going to live in it. Make sure you are going to enjoy it. Don't do a project with the sole purpose of increasing your resale value."
For more information on the Colorado Garden and Home Show: http://coloradogardenfoundation.org/colorado-garden-home-show