Home improvement is the process of remodeling, renovating, repairing and improving the interior and exterior of a home, including the garden, driveways, walkways, patios, garages, and even swimming pools. Home improvements can also include installing solar panels, adding insulation, and making energy-efficient upgrades to heating and cooling systems.
Home improvements can be costly, and homeowners should plan accordingly. To avoid spending more than is necessary, homeowners should get multiple estimates before hiring a contractor for any work to be done. A written contract should be signed by both the homeowner and contractor, outlining the specific price and details of the work to be performed. It should include a detailed description of the work, the estimated completion date, and a payment schedule. The contract should also contain an arbitration clause if the parties agree to use this method of dispute resolution.
A new kitchen, bathroom or bedroom is a popular home improvement project for a good reason: It can add significant value to a home, especially if it’s well-designed and in a style that appeals to buyers. However, not all renovations are created equal. Choosing the right projects is key to maximizing the return on your investment.
According to the latest American Housing Survey (AHS), homeowners took on an average of 115 million home improvement projects in 2018, compared with 93 million in 2017. This is a substantial increase in just two years. In addition to increasing home values, these projects provide a great way for homeowners to enjoy their living spaces while also fixing any problems they may have.
When it comes to resale, the key is to stay within the neighborhood’s aesthetic and budget. For example, over-the-top landscaping or outdoor fixtures like a hot tub will stand out and turn off potential buyers. However, low-cost projects like refreshing shower areas or replacing vanity and toilets can have a high ROI.
If you’re thinking of selling your home in the near future, be sure to speak with a real estate agent about which projects would be most valuable. They can give you advice on what kind of projects will have the best resale value and which ones aren’t worth the time or money.
The term “home improvement” can be misleading because it doesn’t always improve a home’s value. In fact, many projects don’t even recoup the costs they require. This is why it’s important to do your research and only choose a project that will help you save money in the long run or make your living space more comfortable.