Woodworking Projects That Sell Well
Whether you’re considering a simple woodworking project to add value to your home or a much grander plan to help your home sell quicker or just have fun and be a bit different you need to start with plans and projects that can be sold easily.
This doesn’t mean your place is bursting at the seams with projects. Rather it means that you will be looking for projects that can be used to increase the appeal or value of your home. In general, the more unique and elaborate the project the easier it will be to sell because those buyers have talked it over with each other and gathered realistic expectations for what the project will cost. If you’re a appraiser you’ll need to know before you ask a question how much value a particular project is expected to add to the home.
An example may be finishing a patio for your home that even though it’s simple it will make the space feel more like home to the buyers. If you’re giving your home away for $500,000 then isn’t it time to put a full price premium on the home? It doesn’t hurt to create a cushion with your asking price just in case. But remember that if you’re not an appraizer looking at this project you can ask the potential buyer if they’d see an addition like this in their home or ask for 10% ( Spirit limited) down on the sale price to help cover some of your design and material costs. That +10% is usually discussed as an addition in a luxury home or semi on the open market.
Another example may be adding a room onto the home or finishing a basement. If you don’t have $50,000 to finish the basement and you spend $150,000 on the project it will usually be appreciated more. If you’re like most common people your $150,000 basement and room addition almost seems like a good idea.
However if you do this and then choose to sell in a few months because the project cost went way up then the competition will be tough. You’ll recoup around 75% of your costs and even at a $100,000 maximum you will recoup something close to that (often in excess of 100% in a lot of cases). That’s a great deal to be in a position to recover 75% of the project cost, but if those buyers don’t know that they have this kind of option you’ll lose your deposits! Or even lose outright.
Here are some other quick ideas for cabinet and shelving projects that can add value – without spending a ton of money:
Adding a Half branching Wall or Pier
Options 1, 2 & 3 are free for you at low cost:
Once you’ve selected your cabinets, purchase the material recommended for your project:
A great way for you to create value and appeal is to leave out the overhang (kick boards, such as wood shutter, prohibitively expensive at $1400 to $2000 for a full 100′ x 50′ roll) and sink your 3′ x 8′ wall studs flush to the wall utilizing 3/4″ or 7/16″ wall plaster grade plywood sheathing with 1 1/2″ wallboard on top. This creates a dimensional punch while also providing additional insulation and air sealing throughout.
You can then finish the walls with poly-printed drywall, apply acoustical material, metal eye rail and even incorporate a tile pattern to increase the risk that your loved ones and friends will at least have the option of enjoying the space!
If those options are too costly for your budget than you can always rent/rent/rent a Pro’s equipment and save yourself however much you can or by blocking off walls by taping the original tile to the walls. These techniques work well especially when combined with fiberglass sheeting similar to Mylar sheeting. You’ll have a great and almost customer ready built partition wall for under $100. Getting rid of the ever rising energy bills.
With a little thought you can endlessly design and build solutions that will enhance any home and continue to pay themselves off for years to come. Put your ideas to good use and let the decorating magazines and experts demolish your “riff roard” projects!