Home improvement is the process of upgrading an existing house or building. It includes repairs, remodeling and renovating. People do this to increase the value of their homes or to make them more functional. Home improvement can be a very time consuming and expensive project. However, there are ways to reduce the costs and get a better return on your investment.
There are many different home improvement projects that can be done on a budget. Some of these projects include refinishing wood floors, replacing or updating kitchen appliances, installing new lighting fixtures and painting. Many of these projects can be done by the homeowner, but some may require the services of a professional.
In the United States, spending on home improvements rose sharply after the recession and continues to outpace overall consumer spending. Homeowners over the age of 55 are driving much of this activity, as they are more likely to have equity in their homes and are looking for ways to improve their quality of life.
Popular home improvement television shows such as This Old House and Bob Vila have contributed to the growing culture of DIY (do-it-yourself). In addition, nostalgia for older architecture combined with a desire for masculine leisure activities has helped create a niche market for reworking living spaces into pseudo-Victorian man caves complete with antique furnishings, craftsman woodwork, and the use of power tools that reinforce male identity.
While some home renovations can add value to a home, others should be avoided. In-house theaters, built-in technology that quickly becomes outdated, and overly personalized bathrooms are all projects that can reduce a home’s resale value. In general, it is best to stick with standard upgrades that will appeal to the broadest range of buyers.
A well-maintained yard can also increase a home’s resale appeal. However, homeowners should be careful not to overspend on landscaping. Overly elaborate landscaping can actually detract from the resale value by making the home look too upscale for the neighborhood.
The most cost effective and easiest way to upgrade a home is with paint. A gallon of paint costs about $30, and can make a dramatic impact on a room’s appearance. If you are selling your home, choose neutral shades that will appeal to a wide variety of buyers.
If you’re thinking of doing a major home improvement, consider consulting with a real estate agent to see what projects will add the most value to your home. A professional can help you create a budget and timeline for your project, and can save you from costly mistakes.