Home improvement is a popular pastime for many homeowners, and there are a variety of projects that can be done to add value to a home or simply make it more comfortable. Some of the most popular upgrades are kitchen and bathroom remodels, adding a deck or patio and installing new windows. However, homeowners should be careful not to overspend on improvements that may not provide a good return on investment when it comes time to sell.
When it comes to making upgrades that will add the most value to your home, a few simple steps can help you avoid costly mistakes. First and foremost, consider your own lifestyle needs before making changes that will add extra costs to your monthly bills. It is also a good idea to stay on par with your neighbors. Adding high-end upgrades that are well above the neighborhood average could be a deterrent for potential buyers, as it may limit your home’s appeal to people who are interested in the area and price range.
Experts are predicting that updates that improve a home’s energy efficiency will be one of the top trends in 2023. These projects, which include installing new windows and a heat pump, can help lower energy costs and increase a home’s value by making it more appealing to potential buyers.
Another trend that is expected to grow in popularity is the addition of outdoor living spaces, such as patios and decks. These upgrades are a great way to add functionality and curb appeal to a home and they can be relatively inexpensive compared to other remodeling projects. Experts recommend focusing on projects that will add the most value, such as adding a barbecue island or creating an outdoor fireplace.
Lastly, landscaping is another easy and cost-effective way to increase your home’s value. Planting flower beds, shrubs and trees can instantly improve your home’s curb appeal and boost its value by adding a splash of color and greenery. A well-maintained yard can add as much as 10% to a home’s value.
While DIY projects can save you money, it’s important to hire contractors who are licensed and insured. When hiring a contractor, make sure the contract includes their name, address, phone number and Maryland Home Improvement Contractors License (MHIC) number preprinted on the front of the agreement. Also, it is a good idea to get estimates from several different companies before hiring someone to complete a project.
Home improvement is a big industry with countless options and trends that change over time. It’s important to research design trends and ROI percentages before investing in any home projects. By staying informed about current trends, homeowners can be confident that any upgrades they make will be worthwhile when it comes time to sell. It’s also important to keep in mind that your personal preferences and taste will play a role in what type of renovations you choose. This will ensure that your home is a place you can enjoy for years to come.