Home improvement involves the remodeling, altering, renovating, repairing, restoring or modernizing of any part of a residential building. This can include adding or removing rooms, changing their layouts, installing new flooring and appliances, painting and other decorative improvements. It can also include yard work, such as resodding or planting grass and maintaining the home’s landscaping.
A common home renovation is adding a bathroom or kitchen. These projects can make a home more comfortable for its residents and increase its resale value. However, if you’re renovating only for resale value, you should consider the needs of potential buyers and make sure your upgrades are what they want.
Another popular home improvement is increasing a house’s energy efficiency with insulation, new windows or a heat pump. These projects can decrease a home’s energy costs and make it more appealing to potential buyers when you’re ready to sell.
Home renovations can be expensive, but they don’t have to break the bank. Many homeowners are able to afford the majority of their home improvement projects without taking out a loan or going into debt. In fact, 80% of homeowners who responded to our September survey say they typically stick to the budgets they set for their home improvement projects.
Home improvements are a great way to add value to your home and make it more enjoyable for you and your family. But don’t get caught up with what others are doing and end up spending money on renovations that won’t pay off for you when you’re ready to sell.