Home improvement is one of those things that can seem like an overwhelming and expensive undertaking. However, when done right, it can add a significant amount of value to your property and increase the overall function of your living space. In addition, if you’re considering selling your home in the future, it can make your residence more appealing to potential buyers.
The most popular home improvement projects fall into several categories: interior, exterior and landscaping. Some are easy to complete in a few days and can increase the curb appeal of your house. These include painting the front door, adding a brightly colored welcome mat and planting flowers near your entrance. Other improvements might require a little more time, but can still add to the beauty of your home. A new bathroom, kitchen or bedroom can really improve the look of your home.
In the case of a bathroom, replacing old fixtures and upgrading the vanity is a great way to freshen up the room. Similarly, changing out the carpeting and installing a new sink can really make a difference in the appearance of your living space. Some larger home improvements include a master suite, finished basement or new deck. It is important to think about your intended future use of your home when planning these projects, as it may not be a good idea to invest in an addition that will only increase the cost of maintaining your current residence.
It is also important to keep in mind that not all home improvement projects add value to your home. Some improvements might not be attractive to the average buyer or may not be in line with the style of your neighborhood. If you’re thinking about making some improvements, it is recommended to speak with a real estate agent to see which upgrades will add the most value.
When it comes to funding these home improvement projects, many homeowners are turning to savings and loans to finance their work. In fact, according to the 2021 American Housing Survey, nearly 78% of all projects were paid for by cash. The rest were financed with other means, such as selling items or tapping into or exhausting emergency savings.
Homeowners have developed a renewed interest in renovating their homes in recent years, especially during the pandemic. While growth in these initiatives has been consistent across all income levels and project types, a disproportionate surge was seen among middle-income households completing moderately priced projects.
As these projects continue to grow in popularity, it’s essential that they be undertaken with both safety and the return on investment in mind. Whether you’re looking for a few quick fixes or to completely revamp your home, we’ve got you covered with expert tips and DIY advice. Be sure to do your homework and choose contractors with a track record of reliability and quality work before starting any projects. It’s always wise to verify license and insurance information, check references and perform background checks before hiring anyone for a job.
