Home improvement is any type of renovation or upgrade that improves the look and feel of a house. It can be a large project, like adding an addition or remodeled kitchen, or it can be something as small as repainting the house. Whatever the project, it is important that homeowners plan carefully before starting. The goal is to get the most value and return on investment for the money that is spent.
With prices for building materials rising, some people might hold off on high-dollar projects such as a new roof or kitchen remodel. Instead, 2023 might be the year that homeowners focus on making smaller upgrades to their home. These can be done for very little money and add a lot of value, such as a new front door.
Adding a manufactured stone veneer to the outside of your home is one of the top improvements that will recoup the most value, according to Remodeling Magazine’s Cost vs. Value Report. It also helps reduce energy costs because it insulates the house better.
In a similar vein, replacing older windows with energy-efficient ones will save on your utility bills and make the house more comfortable. This is another project that can be completed for very little money and has a good chance of recouping the cost when it is time to sell.
A popular home improvement for resale is turning a spare bedroom into a home office or media room. This is a relatively inexpensive way to increase the value of your home and gives buyers extra living space. However, talk to a real estate agent before taking on this project because it can be difficult to determine what the right amount to spend is.
An additional bedroom and bathroom are other common home improvement projects that will add to the resale value of your home. If you are going to do this, be sure that the bathroom has a shower and a toilet, as well as nice fixtures. It is a good idea to stick with midrange options for these items, as they have the same visual impact as the more expensive choices.
Landscaping is another easy and affordable way to boost the value of your home. It might not add as much to the resale value as, say, a new kitchen or bath, but it can still give your house a fresh, welcoming appearance. Mowing the lawn, removing dead branches and planting some perennial flowers are great ways to achieve this.
When choosing a contractor for your home improvement, be sure to compare quotes and find out whether or not they have insurance. If they do, make sure that the policy covers workers’ compensation and general liability. Also, ask to see a copy of their contract. It should include a timeline for the work to be completed, a payment schedule and as many specifics as possible about the materials (like types or brands) being used. It should also have the contractor’s name, address and MHIC license number preprinted on it.