Home improvement is anything that improves the appearance of a house or makes it more functional. This includes maintenance, repairs, and additions.
Often, homeowners undertake home improvement projects with the hope that their investment will pay off in resale value. This can make it difficult to tell which upgrades are worth the money, and which ones will detract from a home’s overall value.
In general, renovations that add livable square footage are the most likely to increase a home’s value. This can include adding a bedroom, bathroom or garage. However, it is important to remember that buyer preferences vary from market to market. So, before embarking on a major home renovation, it’s important to research the specific needs of your local market and talk with a real estate professional about what improvements are most likely to add value.
When deciding what types of improvements to make, it’s also helpful to consider what is currently trending in your area. For example, if most of your neighbors are replacing their front doors with more stylish, energy-efficient models, it may be wise to follow suit.
It’s also important to stay within your budget and get multiple estimates before hiring a contractor. Be sure to ask contractors for a written estimate that includes a description of the work to be done, materials and a completion date. And, don’t forget to include a 10% buffer in your budget to account for unforeseen expenses. This will help to ensure that you don’t overspend or end up in debt during the project.