Home Improvement and Your Home’s Value

Home improvement

Home improvement can be a wonderful way to make your house more comfortable, but it’s important to do the work right. Otherwise, it may decrease your home’s value. Also, some home improvements can cause damage to your house or property. If you are unsure of what to do, consult a professional. This will save you time and money in the long run. Also, remember to purchase home repair insurance, which will cover any damages you might incur while doing the work.

Many homeowners start a home improvement project with the idea that it will increase their house’s value, making it easier to sell when they decide to move. After all, who wouldn’t want a state-of-the-art kitchen, three bathrooms or a finished basement? Unfortunately, those hoping to get their money back when they sell are often disappointed. In fact, some remodeling projects can actually decrease a home’s value, according to a Cost vs. Value Report by contractor search service Angi.

A home improvement is any renovation or addition to a residential building, including the addition of rooms or structures, as well as changes to an existing room, such as painting or replacing floor coverings. It is usually done to upgrade a building, but can also be for aesthetic reasons or to repair damage. Home renovations can be expensive, but the right one can significantly boost a house’s value.

Despite high prices for building materials, more people are spending on home improvements than usual. This is partly due to soaring interest rates that make trading up in a new home less attractive. But it’s also because more homeowners are staying put and renovating instead of selling.

The top two categories that are surging are for deck construction and fence construction, a sign that many homeowners are spending more time outside their homes. Others are sprucing up their interiors with new flooring, cabinet upgrades and a fresh coat of paint. In the meantime, homeowners who are hesitant to spend too much on a major renovation can still do some small things that will enhance their living spaces.

Replacing old doorknobs, for example, is an easy DIY project that can instantly improve a house’s appearance. And if you’re not sure what types of home renovations are popular with buyers, consider asking some real estate agents in your area for advice.

Unless you’re planning to sell your house soon, it’s generally a good idea to choose home improvements that will appeal to the widest range of potential buyers. If you spend big bucks to create a home recording studio, for example, many young families will probably be turned off by that kind of overly personalization and might not be willing to pay more for your house than they would for another that had the same features but no recording studio. Also, it’s always wise to do maintenance and repairs before you try to sell your house. Neglected systems will be discovered by a buyer’s home inspector and are likely to detract from your home’s value.

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