Home Improvement – Adding Value to Your Home

Home improvement, also known as home renovation or remodeling, is the process of upgrading a house through various projects. This process could include interior or exterior work such as painting, refinishing floors, and adding new lighting or appliances. It could also involve making structural changes to the house such as adding an extension or renovating a basement. Other forms of home improvement may include landscaping, gardening or garage or shed work. Home improvement can be an excellent way to increase the value of a home or simply to make it more functional and comfortable for a family.

While many homeowners may undertake home improvement projects to add value, not all improvements will do so. Some will even decrease the value of a property. The key to successful home improvement is to do only those projects that will provide a return on investment (ROI) and make a house more enjoyable to live in. While ROI figures vary depending on who is doing the estimating, there are certain projects that will always add value to a home such as:

A major project that should be done before any other home improvement is a foundation and structure repair. This will address any serious problems that need to be addressed such as a weakened foundation, sagging walls or joists, and carrying beams. It is important to address these issues before moving on to other home improvement projects as they will likely have a direct impact on the success of other home improvements such as new windows, a kitchen remodel or adding an extension.

Other popular projects that typically have a high ROI include replacing worn doorknobs, cleaning out rain gutters and repairing sidewalk cracks. These simple fixes are typically inexpensive, but will give a significant ROI when compared to the cost of the project.

When hiring a contractor for a home improvement project, it is important to research and obtain references from past customers. It is also a good idea to verify the contractor’s license and insurance. In addition, in the state of New York, contractors are required to have liability and workers’ compensation insurance. It is also a good idea to check the contractor’s membership in a reputable industry association.

In the past three years, there has been a surge in DIY home improvement. This is partly due to the pandemic, as owners have been using their extra time at home to tackle projects that they had planned before the lockdown. However, this trend is expected to wane as the pandemic ends and homeowners get back to their normal routines. The best way to determine which improvements will add the most value is to speak with a local Realtor. They will be able to recommend specific projects that fit with the style and value of other homes in the area. It is also important to avoid over-improving a home as this can turn off potential buyers and make it less appealing for them to purchase.