Home improvement is the repair, maintenance or upgrading of residential real property, such as a house or apartment. It also includes the renovation of outdoor spaces such as yards, gardens and patios. Home improvements can be done for aesthetic or functional reasons. Some examples include a new kitchen, bathroom or bedroom. However, more extensive projects such as adding an extension or building a conservatory may be required for health and safety or to improve the overall look of a property.
Remodeling can be very expensive, but there are ways to make your home more enjoyable without breaking the bank. A few smart upgrades can boost your home’s value and help it sell faster if you decide to put it on the market. Ideally, you should choose a project that is relevant to your lifestyle and fits with the character of your home, but you also want to ensure it will appeal to prospective buyers.
Regardless of the size or scope of your renovations, you can improve your chances of success by making sure that you understand what will be involved and the expected costs before hiring contractors. A professional contractor should be licensed, insured and bonded, with a proven track record of quality work and the ability to meet deadlines. It is also advisable to obtain multiple estimates and compare contractor backgrounds, including past job history, accreditations and references. In addition, homeowners should look for a company that is a member of a trade association and/or has a solid reputation in the community.
According to the Harvard Joint Center for Housing Studies, spending on home improvement has grown by 50 percent since hitting a low during the recession. Homeowners 55 and older are a driving force behind this growth, accounting for 45 percent of all spending on home improvement.
There are a number of home improvement projects that offer good returns on investment, such as updated kitchens and bathrooms, garage door replacement, adding a deck or gazebo, painting and installing energy-efficient windows and appliances. Projects that can decrease your utility bills and save you money over time, such as a smart thermostat or added insulation, are also good choices.
Some home improvement projects can’t be delayed, such as electrical problems or a leaky roof. In these cases, it’s important to complete the necessary repairs as soon as possible to keep your family safe and prevent further damage to the home. Homeowners should also consult with a Realtor or other industry professionals before beginning any major renovations to ensure they will add value and increase the likelihood of recouping their costs when it comes time to sell. It’s a good idea to talk with an experienced Realtor about your project before you start, as they can provide valuable advice and guidance on what projects will work in your particular market. Also, a Realtor can help you avoid common mistakes that can cost you big in the long run.