Home improvement is any renovation, alteration, modification, repairing, restoring, or improving of the interior and/or exterior of a residential real property. This includes, but is not limited to, painting, resurfacing of pavement or driveways, installations of any kind, and the construction of porches, decks, fences, additions, etc. Home improvement also refers to the modernization of a home and may include replacing electrical, plumbing, or heating systems.
In the midst of a robust housing market, homeowners are more likely to undertake renovations than ever before. In fact, a recent report by Real Estate Witch found that nearly 95% of homeowners plan to renovate their homes in the next five years. With so many projects on the horizon, it’s important to choose wisely and stay within budget. But before you start tearing down walls and buying new appliances, be sure to speak with a realtor about which projects will actually add value to your house.
According to the National Association of Realtors, sparkling bathrooms and kitchen remodels are among the most popular home improvements. However, these projects typically offer only a 60% return on investment, according to a separate Cost vs. Value report. It’s also important to talk with a local realtor about the trends in your area. This can help you determine which renovations will be most profitable.
When it comes to choosing a contractor, you’ll want to consider their qualifications and experience. A licensed and insured professional will be able to provide you with high-quality work. Additionally, they will be able to answer any questions you might have about the project. They will also be able to provide you with a detailed estimate for the work.
It’s also important to consider the safety of your family during any home improvement project. Always follow proper safety precautions, especially when working with electrical or plumbing. It’s also a good idea to get your home insured before beginning any renovations. An insurance professional can help you find a policy that meets your needs.
While there are many benefits to making improvements on your home, it’s important to remember that not all renovations will add value. In fact, some may even decrease your resale value. Gordon recommends hiring a professional the first time around to avoid costly mistakes.
While television is flooded with shows like Fixer Upper and This Old House, not all home improvement projects are worth the hassle. To avoid wasting money and time, it’s crucial to understand which home improvements will increase your resale value. This article will explore some of the most common and successful home renovations, as well as some that you should skip. In the end, it’s all about finding a balance between your personal style and the needs of potential buyers.