Home improvement, or the process of modifying a home to increase its value, has long been a popular way for homeowners to get a good return on their investment. However, not all renovation projects are created equal. Some, such as turning a basement into a bedroom, are more likely to attract potential buyers than others, like adding a deck to a backyard. Before you begin your next project, make sure you consider the pros and cons of each option.
Home improvements can be expensive, but they’re also a great way to add some extra comfort and curb appeal to your home. From a new paint job to replacing worn flooring, there are plenty of ways to freshen up your space without spending a fortune. To help you get started, here are some tips to make your next project as cost-effective as possible.
A few things are certain in life: death, taxes and home improvement projects. From replacing a leaky roof to upgrading your outdated kitchen, many homeowners find themselves confronted by can’t-wait home repairs or DIY projects that just have to happen. While it isn’t always possible to predict what a particular project will entail, most home improvement tasks can be broken down into several phases.
The first step in planning a home improvement project is to determine how much you can afford to spend. Homeowners who don’t have a lot of money saved can start by looking for a home improvement loan or credit card that offers a low interest rate. This will allow you to finance your project without putting a significant amount of debt on your credit report.
If you’re unable to secure financing, you can still complete home improvements by saving up for each phase of the project. While this may take some time, it will give you more control over the budget and ensure that your project is completed within your desired timeline.
When choosing contractors to work on your home, it’s important to research each one before hiring them. Checking their license, insurance and business references can all help you avoid unqualified and dishonest companies. You can also ask a contractor for a written contract that includes details of their services and any warranties they offer.
Whether you’re planning to sell your home in the future or not, it’s essential that you select projects that will increase its resale value. This can be as simple as selecting a color that is most likely to appeal to a wide range of people or as complicated as converting a garage into an office or bedroom. If you have a specific goal in mind, be sure to consult with a real estate expert for guidance.
Despite a general pullback in home improvements during the pandemic, many contractors and retailers expect the industry to rebound as the economy improves. Traveling contractor Emmanuel Forge says that although consumers are still hesitant to spend money on major upgrades, they’re making a point of completing smaller improvements.
