Home improvement is the practice of making changes to a home, such as replacing flooring, adding cabinets or remodeling a kitchen. Home improvements are often done to add value to a home, increase the efficiency of a home or simply make the house more enjoyable. Some homeowners take on these projects themselves, while others hire professional contractors. Home improvements are an important investment in a home, but not all renovations will pay off when it comes time to sell. A real estate agent can help homeowners determine which projects will have the biggest return on investment.
There are few certainties in life, but one of them is that homeowners will always have a home repair or improvement project to complete. Sometimes these tasks are urgent and can’t be put off, such as when a roof is leaking or there is a flood in the basement. Other times, they’re planned and are a result of wanting to update a room or a desire for more space.
According to a Houzz study, the most popular home improvement projects are adding an outdoor living space, updating the kitchen and bathroom, and converting a bedroom into a home office or gym. In addition, a backyard pool and hot tub are also popular improvements. Homeowners also like to make the most of their yard by planting trees and shrubs, putting in a deck or patio, adding a fence, installing an outdoor fireplace and lighting up the yard.
Almost all homeowners do some form of home improvement at some point during their ownership of the property. Many of these are relatively inexpensive, such as painting a room or refinishing the wood floors. Some projects are more costly, such as building an extension or adding a garage. However, most homeowners feel that these improvements will pay off in the long run as they enhance the property’s resale value.
It’s important for homeowners to understand the costs involved in a home improvement project before they start. Getting a quote from several different contractors is recommended to ensure that the homeowner is being quoted an honest price. It’s also recommended to check whether the contractor is licensed and insured. It is also advisable to only work with contractors who are members of a trade association or accredited by a professional organization.
Home improvement can be an exciting endeavor, but it’s important to stay within a budget and avoid going into debt. It’s not a good idea to buy a new car or go on vacation while working on your house, as these expenses will detract from the resale value when you eventually decide to sell.
When planning a project, it is helpful to create a detailed list of the work you want completed. This will help the homeowner negotiate with contractors and prevent them from trying to oversell the job. Also, it’s helpful to know whether the renovation will require a permit or inspection, and what materials are required.