Home improvement is an ongoing process of renovating and improving your home. This can include changing room layouts, adding rooms, upgrading flooring, and refacing cabinets. Some projects can be done by yourself and others may require a professional. Before beginning any home improvement project, it is important to make sure you have a plan and know what your budget is. This will help you avoid going over budget and putting yourself in debt.

While some improvements will boost your home’s value and appeal, others might have the opposite effect. For instance, if you install a swimming pool in your backyard when other homes in the area have above-ground pools, it might lower the value of your home and deter potential buyers. If you’re planning to sell your home in the future, it’s also a good idea to consult with a real estate professional to see what upgrades would have the greatest return on investment.

In many cases, homeowners are renovating their homes because they want to feel more comfortable in them. Unfortunately, if you renovate your home solely based on what will increase its value, it will often end up feeling like a showplace that doesn’t feel much like a place to live.

For example, you might choose expensive floors and fixtures that don’t align with the style of other homes in your neighborhood. Or, you might add a hot tub or fountain in your yard that looks out of place with your neighbors’ modest ones. These upgrades won’t appeal to most potential buyers, and they might not even increase your home’s resale value at all.

Fortunately, a few simple fixes can improve your home’s comfort and keep it safe without breaking the bank. For instance, if your home has drafts or leaky roofs, they should be a priority to fix before they get worse. Also, don’t skip out on routine maintenance that will save you money in the long run, such as replacing worn doorknobs or cleaning gutters.

Although remodeling projects have been on hold during the COVID-19 pandemic, some people are still making home improvements. Many of these are small updates to their kitchen or bathroom, such as refreshing shower areas or installing new toilets. They’re also upgrading their home’s exterior, including painting the front door and resealing the driveway or sidewalk.

Despite this, major renovations aren’t a top priority for most households. Instead, more than half of those who plan to undertake a home improvement say they want to make their home more comfortable and feel more satisfied with it. Only 20% say they’re doing it to attract potential buyers. This may be because most homeowners are concerned about inflation and whether we’re in a recession, which can affect how they view the value of their home. In addition, they might not want to take on any debt or have a mortgage reassessed. This could lead to higher interest rates and lower returns on their investments.

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