Home Improvement – Add Value to Your Home Without Spending a Fortune
Home improvement is the repairing, renovating, altering, converting or modernizing of any part or all of a residential building. It can also include installing insulation, doors, windows, a roof, heating and cooling systems, carpeting and other flooring, fixtures, painting, decorating and landscaping.
Many homeowners undertake home improvement projects with the hope of adding value to their properties. This can be an admirable goal, especially in a sluggish real estate market. But homeowners should be careful not to spend money on improvements that will not pay off when it comes time to sell their homes. A number of common remodeling projects actually decrease a property’s resale value, and some can even cost homeowners more in the long run than they initially invested.
Fortunately, there are a few easy ways to add value to a property without spending a fortune. One of the best strategies is to focus on curb appeal, as this can make a huge impact on a potential buyer’s first impression of a home. In addition, simple upgrades to a kitchen or bathroom can yield significant returns on investment.
The good news is that home renovation spending has increased since hitting a low point during the last recession. The categories that are surging the most, according to Angi, are those related to work outside the home: hiring landscapers, building decks and putting up fences are all showing strong increases in popularity. And that makes sense, as rock-bottom interest rates are making these types of home improvement projects more attractive.
A common mistake that homeowners make is to think that their unique preferences will sway buyers in their favor when it comes time to sell their homes. But the truth is that most buyers want to see a house that is well-maintained and in good condition, and personal tastes aren’t as important in this regard as they may seem.
It’s also important for homeowners to understand that just because something is “trendy” doesn’t necessarily mean it will have a positive impact on the resale value of a home. For example, it’s a common misconception that a homeowner can increase their home’s value by installing unique or lavish light fixtures, but the truth is that this type of improvement won’t appeal to most buyers and will actually hurt a property’s resale potential.
Homeowners seeking to improve their properties should also take into account the fact that some improvements are not tax deductible. This is particularly true of luxury items, such as a hot tub or a new pool, and it’s also the case for alterations to existing structures.
Whether you’re looking for advice on DIY home improvement projects or you’re interested in finding a contractor to help with a larger remodel, our guide has everything you need to know to get started. Just remember that it’s always wise to consult a professional before tackling any major home improvement project. They can help you create a plan of attack that will help ensure your projects are both successful and safe, while also helping you get the most out of your home improvement investment.