Home improvement is the process of upgrading or renovating a home. It includes repairs and renovations that improve safety, security, and comfort; the addition of room features such as bedrooms and bathrooms; and outdoor improvements like landscaping or building a deck. It also can include making energy-efficient upgrades such as replacing heating and cooling systems. Home improvement has become a multibillion-dollar industry, and it plays an important role in the economy. Homeowners often undertake projects themselves to save money, but some work requires a professional. Many home improvements, such as plumbing and electrical work, are dangerous to perform without proper training and equipment.
Television shows such as Bob Vila’s This Old House and Trading Spaces have helped popularize home improvement projects by showing viewers how to do them. This has led to a widespread interest in DIY (“do-it-yourself”) activity, particularly among women. Homeowners can buy the tools and materials needed for most projects online or at local hardware stores.
According to a recent survey, more than half of homeowners are considering taking on a home improvement project over the next two years. However, most of these projects aren’t aimed at making homes more attractive to potential buyers; rather, the majority of homeowners say they want to make their houses more comfortable for themselves and their families.
With rock-bottom interest rates, it’s tempting to borrow money and take on a big renovation project. But before you start tearing down walls and putting in new flooring, it’s important to understand what improvements will actually add value to your home. A good place to start is with your home’s curb appeal.
Painting the front door, resealing the driveway, and power washing your house are simple, inexpensive ways to boost your home’s appearance. These easy projects can have a significant impact on the way your home looks, and they can help it stand out in your neighborhood.
Other home improvement projects that can add value to your home include refinishing hardwood floors, adding an entry door, or updating kitchen appliances. These upgrades can increase the resale value of your home, and they may even increase the amount you’re able to sell it for.
While a well-maintained, updated home can add to its value, there are some projects that can actually decrease your home’s value. If you’re thinking about selling your home in the future, it’s important to think carefully about which projects will be worthwhile. Avoid high-cost, low-return improvements that aren’t likely to pay off in the long run. Here are some of the best (and worst) home improvement projects for increasing your home’s resale value.