Home improvement is the process of renovating or improving a home, such as painting, fixing leaky roofs, or adding new flooring. This industry also includes the sale of building materials and appliances for home use, as well as the services provided by contractors and other professionals who help homeowners perform these tasks. The home improvement industry has experienced excellent growth results in recent years. Especially during the COVID-19 pandemic, it boomed due to consumers’ desire to make their homes more attractive and functional.
Television schedules are packed to the brim with shows about home renovations and remodeling projects. But it’s one thing to watch a show and another to actually do the work yourself. Many people end up spending more than they expect on home improvement projects, and some projects may not even add to the value of the home. It is important to discuss your plans for home improvements with a real estate professional and understand which renovations are worth the money and which ones will not pay off.
Generally, the best home improvements are those that can be completed with minimal time and expense and still add value to the house. Examples of these are painting, replacing carpet with hardwood floors, installing a new front door, or upgrading the kitchen and bathrooms. Other popular projects include adding an extra bedroom and a bathroom, converting attic space into living area, and updating the landscaping.
Before starting any home improvement project, it is a good idea to compare estimates from several different contractors. Look at not only the price, but also each contractor’s reputation, experience, and length of time in business. It is important to choose a reputable and licensed contractor, because if someone gets hurt on the job or damages your property, you could be held liable. Check with your local licensing agency to find out the requirements for a home improvement contractor in your area.
In general, it is a good idea to spend no more than 10% of your home’s value on any one project. Larger projects like adding a garage or an extra bedroom usually return the most money, but a few small cosmetic changes can have a big impact as well. In addition to the cost of materials, be sure to budget for extras such as permits, inspections, and potential problems that can arise during construction.
One mistake homeowners often make is to fall in love with the latest trends in home improvement, such as swank light fixtures or granite countertops. These trends can go out of style quickly, so it’s a better idea to select classic designs that will be in style for years to come. In terms of landscaping, a few basic changes can make a huge difference as well. Trim and prune trees, shrubs, and hedges; mulch around plants, bushes, and flower beds; and spruce up the entryway with a fresh coat of paint or stain can dramatically improve your home’s curb appeal.
