Home Improvement and Your Home’s Value

Home improvement

Home improvement refers to any renovation, remodeling or upgrade done to a residential property. This industry includes the sales of building materials, appliances, decor and labor services provided by contractors or tradespeople. Home improvement businesses may be privately owned, franchised or operate out of a commercial location. These businesses are usually reliable, competitive in price and stand by their warranties.

A few home improvement projects can have a significant impact on your house’s value. But be sure to weigh the benefits and costs before starting a project. You can find out about potential pitfalls by consulting with a real estate professional or talking to other homeowners who have recently sold their homes.

Whether you’re planning to sell your home in the near future or not, it’s important to consider your own comfort and lifestyle first when choosing projects that can boost your property’s resale value. “If you renovate solely with the goal of increasing your home’s resale value, you can end up with a showplace that doesn’t feel like your own,” says Grigoriev.

If you do decide to hire someone for a home improvement project, make sure to get the job in writing and have the contractor sign it with his or her name, address and MHIC license number preprinted on it. You’ll also want to check that the contract specifies the work being performed, a start date and an estimated completion date. Some states require that contracts include an arbitration clause.