Home improvement is the act of renovating or repairing the interior and exterior of a home. This can include but is not limited to updating electrical systems, plumbing, windows and doors, refinishing hardwood floors, replacing outdated bathroom fixtures and painting. It can also mean adding a deck, installing a new kitchen or bathroom, landscaping and building a shed. Home improvement can be a very time-consuming and expensive project, so it is important to weigh your options carefully before starting any work.
The popularity of shows like Fixer Upper and This Old House has inspired many homeowners to run out and start remodeling. However, it’s one thing to watch a skilled professional construct a home and another to actually do the work yourself. The difference is huge. Getting in over your head and spending more money than you have is a surefire way to end up with a disaster on your hands, and going into debt over a home improvement project is never a good idea.
A well-executed renovation can add value to your home. However, it’s important to be aware of which projects are more likely to add value and which might make your home less appealing to potential buyers down the road. For example, installing a pool in your backyard isn’t the best choice if most homes on your street don’t have one. And adding high-end appliances and other luxury items to your home may be out of line with the neighborhood’s average price point.
According to a recent report by Houzz, the most popular home improvement projects are those that focus on improving kitchens and bathrooms. These projects can include refitting shower areas, refinishing cabinets and laying new tile. Other popular projects include removing wallpaper and replacing old light fixtures. Homeowners are also focusing on making their homes more energy-efficient, with upgrades including smart thermostats and high-efficiency HVAC equipment.
When it comes to curb appeal, a fresh coat of paint can do wonders for your home. It can brighten a dark, drab exterior and transform an outdated interior. While some experts recommend hiring a professional for painting tasks, others say the DIY approach is just as effective and less costly.
In terms of resale value, adding a primary suite can increase your home’s resale potential significantly. The extra space can be used as a bedroom, home office, playroom or media room. However, you should talk to a real estate agent before making this major investment. They can provide insight into your specific area’s market and help you determine the most effective renovations to make. Additionally, they can help you avoid any renovations that won’t pay off down the road.