Whether you’re looking to renovate the inside of your home or change the exterior, home improvement is a popular way to improve the look of your property. Home improvement projects may involve a wide range of tasks, from replacing windows to installing new flooring. However, whether you’re remodeling the inside of your home or simply want to increase its value, there are many things to consider before you begin the work. Listed below are the best things to consider when starting a home improvement project.
Cost
The average cost of home improvement projects varies, but there is some consistency. Men are more likely to go over budget than women. Average home improvement projects vary depending on the main purpose. The most expensive are projects to increase the value of a home, and those focusing on giving a house a new look are usually the least expensive. Projects financed with credit or with borrowed money tend to be more expensive than those paid for out of pocket.
In general, a new roof costs anywhere from $4707 to $10460 per square foot. However, it can cost as much as $55,000 to improve a kitchen. Homeowners may choose to renovate a primary bath, but only if their budget is more than $4500. Painting is an exception, but it can be a splurge item. If you are planning on selling your home in the near future, you may want to consider a new kitchen, which could fetch you up to $135,000 when you sell.
Return on investment
When considering a home renovation project, you might ask yourself whether it is a wise idea to include labor costs in the cost. Although the returns from home improvements are generally high, some of these projects may actually have a negative ROI. In this case, you may want to consider DIY home improvements. Not only will they give you a higher ROI, but they will also improve the quality of your life. The return on investment of home improvements varies by type and location, but the following tips will help you make a good decision for your renovation project.
A home improvement project that improves the look and feel of your home can increase its resale value. Most buyers prefer homes with hardwood floors, so replacing your carpet will likely bring in a good ROI. In addition, adding functional space to your home can improve its efficiency and security. For an exterior renovation, installing a new roof or replacing damaged gutters can bring a positive ROI. However, exterior home improvements are often the ones that generate the highest ROI.
Contractors to avoid
It’s always a good idea to do your homework before hiring a home improvement contractor. Be on the lookout for red flags that might signal a potential scam, and be wary of contractors that refuse to disclose their licenses or insurance. Check with the Better Business Bureau and LexisNexis to see if any complaints have been filed against them. If there are, you’d best avoid these companies. This way, you can rest assured that you’ll get the work done without paying for unnecessary services.
One red flag for home improvement contractors is if they ask you to pull your own permits. This could mean they’re unlicensed or revoked, so it’s a good idea to check the license number of the contractor. Also, contractors cannot legally put a lien on your property unless they have a license. If they refuse, you should run to another contractor. If you’re unsure of your rights, you can always contact your state’s attorney general’s office for help.
