Home improvement, also called house renovation or home remodeling, is the process of renovating or adding to one’s home. It can be done for a variety of reasons: to improve the home’s value, make it more comfortable, or simply update it. It can also be done to save energy or increase safety. A well-planned home improvement project can also add curb appeal.
Many home improvement projects are expensive, and homeowners must carefully weigh the cost against the resale value of their work. If you’re not sure what upgrades will increase your home’s value, talk to a real estate professional. It’s important to choose improvements that will appeal to the broadest number of potential buyers.
For example, installing a luxury kitchen or bathroom might not increase your home’s value as much as a midrange remodel that will appeal to more people. Another thing to consider is how long you plan to stay in your home. If you’re planning to sell soon, you may want to invest in more costly projects like a new master suite that includes a bathroom, walk-in closet and possibly a deck.
A few key things to keep in mind as you undertake any home improvement project include a budget, contractors and permits. It’s also a good idea to create a detailed list of the work you want to be done. This will help you negotiate with contractors, lock in firm prices and avoid any surprises down the road. It will also help you weed out unscrupulous contractors who might try to upsell you on unnecessary work.
If you’re hiring a contractor for a home improvement project, be sure to check their license and insurance before making any payments. You should also get multiple quotes and compare the services offered by each company. Finally, be sure to read reviews of any contractor before hiring them.
While it’s fun to watch shows like Fixer Upper and This Old House, remember that not all home improvements are created equal. If you’re not planning to sell your home anytime soon, choose improvements that will maximize your enjoyment of the house. For example, if you love to entertain, a renovated kitchen is an excellent investment. If you’re looking to make a quick sale, don’t bother with projects that aren’t likely to increase your home’s resale value. For example, a new bathroom with marble countertops and a high-end shower might not appeal to buyers who prefer something more affordable. It’s also a good idea for homeowners to keep in mind that their home insurance policy should be updated when they start a major renovation. You don’t want to find out after the fact that your policy doesn’t cover the new value of your home. You should also be mindful of how much your project will cost and whether or not you can afford to pay for it out of savings or a loan. In addition, homeowners should think about what type of property tax they’ll be responsible for once the project is complete.