Home improvement, also known as home renovation or remodeling, refers to the repairs and improvements made on a residential home. These projects can be done for a variety of reasons; to increase comfort, to update the appearance or function of the house, or to make it more energy efficient.
Many homeowners undertake home improvement projects with the hope of adding value to their home. But it is important to realize that not all improvements will add value. Some will actually decrease the resale price of a property.
Regardless of the purpose, all home improvement projects should be carried out with care and planning. Before starting any project, get multiple estimates from qualified contractors and always read the fine print in any contract you sign. Maryland’s home improvement law requires that all contracts for work be in writing and signed by both the consumer and business before any work begins or any money is paid. In addition, all contractors must have their name, address and MHIC license number preprinted on their contract.
Creating an inviting front porch or installing new windows and doors are popular home improvement projects that will improve the overall appearance of your home. However, if you want to recoup the cost of your investment, avoid extravagant projects such as adding a swimming pool or hot tub. These high-end renovations may be impressive, but they will most likely detract from your home’s resale value. For the most return on your home improvement dollars, choose projects that will appeal to a broad range of buyers.