Home Improvement – Getting the Most Out of Your Buck

Home improvement is a wide range of repairs and improvements done to the interior or exterior of a home. The term may also refer to improvements made to an existing structure, such as building an addition or putting on a new roof. Home improvement can also mean a remodel or redesign of the layout of an existing space, such as reworking an kitchen or bathroom.

Whether your project is minor or major, it can be a lot of work and expense. But a few simple tips can help you get the most bang for your buck.

One thing that always helps is having a solid plan, including how you’ll pay for it. In the survey, 76% of projects were paid for with cash from savings, but some larger renovations were funded through other sources like home equity loans, credit cards and contractor arranged financing.

Some improvements, such as replacing old windows or adding insulation, can decrease energy costs and therefore save money over time. And other projects, such as a deck or a finished basement, can increase usable space in your home.

When deciding what to do, be sure to consider how the improvements will affect resale value. And keep in mind that buyer preferences differ from market to market. So, talk to real estate professionals in your area about what kinds of projects will bring in the best return. Also, don’t forget to factor in any potential hidden costs.