Home improvement is an important investment that can add value to your property. However, it’s critical to plan your projects carefully to ensure that you are improving your house in ways that are consistent with its style and location. Moreover, you want to make sure that your improvements are in line with what other homes in your area are selling for so that you don’t overspend and leave yourself without a solid return on your investment.

A home renovation can be a fun and satisfying experience, especially if you choose a project that you enjoy doing. Many people choose to upgrade their bathrooms, kitchens or outdoor spaces. Others may opt to paint their rooms or replace light fixtures. Some homeowners are also looking for more ambitious projects, such as putting in an in-ground pool or adding a sunroom. These types of projects can add to your quality of life and increase the value of your home, but they should be completed by a qualified professional who is licensed in your state.

The two largest home improvement retailers have reported that home remodeling spending has cooled down after a pandemic-era frenzy. Lowe’s and Home Depot have said that consumers are hitting pause on bathtub-to-shower conversion plans and instead focusing on cheaper do-it-yourself fixes like painting or replacing the front door. The companies have indicated that rising prices are the main driver behind the pullback in spending.

While many homeowners upgraded their houses during the pandemic, it wasn’t because of the COVID-19 pandemic. According to the National Association of Realtors, home improvement projects rose because of a desire to improve livability and add features (32%), to prepare to sell (29%), or simply because it was the right time to make changes (31%). The NAR reports that a majority of homeowners feel satisfied with their upgraded homes, and millennials are more likely than baby boomers to say they’re happy with their homes.

Some upgrades, such as fixing an electrical problem or installing a new roof, are necessary and cannot be put off. Others, such as upgrading a kitchen or bathroom, can be done to increase your enjoyment of your home and potentially boost its resale value. Another way to increase your satisfaction with your home is by making energy-saving improvements, which can yield tax credits at the time of sale. Some of these improvements, such as a new heat pump and improved insulation, can pay for themselves over time by decreasing your utility bills. These types of upgrades can also enhance your property’s environmental sustainability, which is becoming increasingly important to prospective buyers.