Home improvement, also called home renovation or remodeling, is the process of improving the interior and exterior of a house. These projects are undertaken for a variety of reasons; to make the house more comfortable, attractive, or functional, to increase its market value, to accommodate changing family needs, or simply to improve the overall quality of life. A home improvement project can be a complex endeavor, and there are many potential problems that can arise during the course of construction. This article will discuss some of the most common problems associated with home improvement projects and offer tips to avoid them.
Home improvements can increase the resale value of a home, but not all upgrades are created equal. In fact, some upgrades can actually detract from resale value. This is particularly true for projects that are highly customized to a particular owner’s tastes and lifestyle. For example, a home recording studio is unlikely to appeal to a broad range of buyers, and may even turn some off entirely.
The good news is that, despite rising material costs, home improvement projects continue to be popular with homeowners, according to a recent Houzz survey. In addition, high mortgage rates are discouraging some people from moving, and making it more cost effective for them to stay put and remodel rather than purchase a new home.
In general, kitchen and bathroom remodeling adds the most value to a home, while basement finishing, garage conversions and installing energy-efficient windows add the least. However, the return on investment from a home improvement can vary depending on a number of factors, including location and the current state of the housing market.
Regardless of the type of home improvement, there are some steps homeowners should take to ensure the work is done correctly and within budget. First and foremost, homeowners should always get a written contract for the work. This should include a timeline for completion, a payment schedule and as much detail about the work as possible (e.g., types or brands of materials). In addition, homeowners should withhold final payment until all work is completed and any required inspections and certificates of occupancy are obtained. Finally, homeowners should never go into debt to complete a home improvement project. Paying with credit cards or taking out a loan comes with interest charges that can negate any return on investment.
With an abundance of information available online, it is important to choose a professional contractor with experience working on home improvements in your area. Also, homeowners should be aware of local laws regarding home improvement and permits. In addition, homeowners should not hire contractors who do not carry workers’ compensation and general liability insurance. Finally, homeowners should not be afraid to ask for referrals from friends or family members. This can help them to avoid scams and choose a contractor who will provide the highest level of service.