Home improvement is the repair, replacement, remodeling, alteration, conversion, or modernization of a residential real property or the construction of additions to a single-family dwelling. Improvements can include installing a new roof, painting the exterior of your home, replacing gutters, or landscaping the yard. Home improvement can also include making energy-efficient upgrades such as adding insulation, a new heat pump, or replacing old windows.
A common reason homeowners take on home improvements is to increase their home’s resale value. Other reasons may be to make the home more livable for current residents, or to address urgent problems like a leaky roof or flooded basement that can’t be ignored.
Many projects don’t deliver a great return on investment, however. The most popular projects are sparkling bathroom overhauls, followed by kitchen renovations and basement remodels. However, some smaller improvements, such as a new front door, can provide a much higher return on investment.
It’s important to talk with a Realtor about which projects will really add value to your home before you start planning and spending money. Also, never put yourself in debt to complete a project. This can cost you thousands in interest, and you’ll only get a good return on your investment when you sell your home. Instead, save up the money you need before hiring a contractor, and always negotiate a fair price. If you’re not sure how to approach a project, consider hiring a professional contractor who can provide recommendations and estimates.