Whether you’re planning to stay in your home or want to sell it, there are many things you can do to increase its value. Those include adding upgrades to a house’s appearance and improving its quality of life. But some improvements can be expensive, while others are a waste of money and may even decrease the value of your home.
When to do Home Improvements
According to a recent survey by Axiom Research, nearly half of American homeowners plan on doing some sort of home improvement work this year. The most popular projects are fixing and building a deck or patio, and landscaping work.
It’s also a good idea to do some basic home repairs, such as painting, repairing the roof and replacing rotting wood members. Repairs are often less costly than renovations, so you might be able to do them yourself instead of hiring a contractor.
Before you start any home improvement project, make sure you have all the information necessary to complete it successfully. For example, you’ll need a contract with the contractor that includes a description of the work to be done, the materials to be used and dates when the work will begin and end. You should also ask for a written warranty.
What to Expect When It Comes to Home Improvement
In addition to the general rules of construction, you’ll need to check with local authorities and your insurance company before starting any home improvement project. Your community might require permits for such work as tearing out walls and putting in new doors. You’ll also need to get a permit for reroofing.
How to Find a Good Contractor
When you’re ready to hire a contractor, make sure the one you choose offers fair prices and is experienced in your particular area of the country. You should also ask to see references and a portfolio of previous work. A home improvement contractor should also provide you with a written contract, including a timeline for the project and a payment schedule.
What to Avoid When It Comes to Home Improvement
Before making any major home improvement, you should talk with a real estate agent about the potential impact the change will have on your home’s resale value. It’s also a good idea to walk around your neighborhood and look at the homes that are for sale. That will give you an idea of what the average price is for homes that have undergone certain improvements.
Some home improvements will offer a positive return on investment (ROI), while others are not. In addition to cost, other factors that affect how much you get back include the value of your house and how it compares to the rest of the neighborhood.
You should also consider whether or not the home improvement will increase your home’s overall value or if it will just add a little “wow” factor to your property. For instance, a backyard paradise won’t add much to the value of your home, but a few flowers in the yard and some well-placed shrubs will help create the illusion of an expansive outdoor space.