Home Improvement – Boosting a Home’s Resale Value

Home improvement is the process of improving the interior or exterior of a residence. Home improvements can be done by a homeowner or by a professional contractor. The resulting changes may be minor or extensive. Some examples of home improvement include painting, flooring, carpeting, remodeling a kitchen or bath, adding decks or porches, installing windows and doors, and so on. The home improvement industry is composed of retail outlets for building materials and appliances, as well as contracting services for labor and installation. The industry has seen strong growth in recent years, particularly during the COVID-19 pandemic, with consumers focusing on home renovation projects.

A successful home improvement project can boost a property’s resale value and increase its enjoyment by the homeowner. However, not all improvements add equal value to a home. It is important to plan and budget for a project before beginning it, and to consult a real estate agent about desired improvements that will add the most resale value. Some common improvements that tend to add the most value to a home include opening up a main living space, replacing the front door, and upgrading a kitchen or bathroom.

Some home improvement projects should never be put off, such as repairing electrical problems, fixing roof leaks or addressing safety hazards. Keeping up with regular maintenance tasks, such as washing the windows and trimming the lawn, can also help improve a home’s appearance. These small tasks can also help to keep a home in good repair and show potential buyers that the property has been cared for.

When undertaking a home improvement project, it is essential to have a good understanding of the tools and equipment needed to complete the work, as well as the safety precautions necessary to avoid injury. It is also recommended to choose a contractor who is licensed, insured and reputable, and to perform background checks before hiring someone for a job. Aggregators, such as Angie’s List, offer a way for homeowners to find and compare contractors.

Home improvement is a popular pastime among many Americans. In fact, spending on home improvements has risen over 50 percent since 2010, when it hit a low during the Great Recession. One of the reasons for this boom in home remodeling is that people are staying in their homes longer. This has resulted in a need for upgrades and repairs that were not required before the housing crisis. Consumers are also embracing new technologies that make it easier to do home improvements, such as installing smart thermostats and connected appliances. These upgrades can help to lower a home’s energy bills and increase its resale value. The booming home improvement industry has been a boon for the economy and is predicted to continue growing in the near future.