Home improvement refers to any kind of work or renovation that increases the value of a residential property. These kinds of projects are usually performed by contractors that specialize in remodeling, but in some cases, homeowners may decide to take on the project themselves to save money. Regardless of who is performing the project, it is important to have a well-planned budget that includes a contingency plan for unexpected expenses. Also, it is a good idea to avoid over-improving your home; this can actually decrease its value by making it too different from other homes in the neighborhood.
Some of the most popular home improvements include sparkling bathroom overhauls and big-ticket kitchen and basement remodels. However, these projects often don’t provide homeowners with much of a return on their investment when it comes time to sell the house.
Other common home improvements that are often done to add comfort and convenience are installing new windows, doors, appliances and a new roof. Although these upgrades can be costly, they are often very worthwhile and increase a homeowner’s quality of life significantly.
Another important aspect of home improvement is to keep up with maintenance and repair work. Even small problems can become very expensive if they are left unchecked for too long. It is a good idea to hire professional inspectors to check out your home periodically and make any necessary repairs.
Often, home improvement projects go over budget due to unexpected problems. For example, a plumbing leak that isn’t repaired can lead to mold or rotting wood. This could cost thousands of dollars to fix. Also, homeowners should not underestimate the amount of time a project will take to complete. This can be especially true for larger projects, such as adding an extra bedroom or bath.
Despite the sluggish economy, many homeowners are still making improvements to their home. In fact, about 3 in 5 homeowners have taken on some type of home improvement project during the past two years, according to a NerdWallet survey. This may be due to more time spent at home during the pandemic, which has made many people feel more comfortable working on their home rather than going out. Whether you are improving your home for yourself or planning to sell it in the future, be sure to consult with a real estate agent before starting any major renovations. They can help you determine which improvements will give you the best resale value and which ones are worth avoiding. They can also recommend contractors and help you find financing options. If you are interested in selling your home, a real estate agent can also assist you with finding the right price to list it at.