Home improvement involves any renovation that improves the look or feel of a house. It may be as simple as repainting a room, or as complicated as installing new floors. It can also include constructing an addition or building a garden shed. Homeowners usually undertake home improvements with an ulterior motive; they want the remodeling to boost their property’s value. This is a common misconception, because not all home improvements add value. Some actually decrease the resale price of a home.
While homeowners should always consider resale when undertaking a home improvement project, they should not let this inhibit their desire to make their house as attractive and comfortable as possible. Many projects, however, have little to no impact on resale, especially those that are highly customized to the homeowner’s taste or lifestyle. An in-home recording studio, for example, might be ideal for a music buff, but it’s not likely to appeal to young families seeking a family-friendly environment.
Some of the best home improvement projects are those that can be easily and inexpensively completed. For instance, replacing worn windows is a relatively easy and affordable way to improve the appearance of a home. Installing a new front door is another low-cost home improvement that can dramatically improve a home’s curb appeal. Other inexpensive yet effective home improvements include pruning shrubs and bushes, adding mulch, and repainting the house’s exterior.
One of the most important things to keep in mind when undertaking a home improvement project is that it should be consistent with the neighborhood’s overall style and architecture. It’s also a good idea to consult with a real estate professional before starting any major home renovation. This will help to ensure that you’re making a wise investment.
A number of factors are driving the current home improvement boom, including higher housing prices that have boosted homeowners’ equity and a growing population of seniors who are more financially equipped to afford house renovations. According to the National Association of Realtors, 25 percent of all home improvement spending in 2017 was made by homeowners 65 and older.
If you’re looking for the best ways to improve your home, the key is to choose common renovations that will add the most value and attract buyers. A good place to start is by walking around your neighborhood and seeing what other homes have been renovated recently. Also, talk to friends and neighbors about which contractors they’ve worked with and whether or not they were satisfied with the results. Finally, before hiring a contractor, take the time to verify their license and insurance coverage. In this way, you’ll be less likely to get ripped off.