Home improvement is a term used to describe renovations, upgrades and other changes made to residential homes. This type of work can include anything from painting and resurfacing your driveway to adding new bathroom features and kitchen updates. It can also include a whole house remodel or addition, such as an attic conversion or an expanded garage.
The purpose of most home improvements is to increase a home’s value for future buyers or, at the very least, make the home more enjoyable for the people who live there now. However, homeowners should be careful not to overspend on projects that won’t pay off down the road.
A good way to determine which home improvements will add value is by talking to a local Realtor. They can give you specific suggestions that will improve your home for the best return on investment. They can also help you avoid renovations that will decrease your home’s resale value.
Many home improvement projects can be very expensive. Some are necessary, like fixing a leaky roof or replacing worn carpeting. Others are not so necessary but still desirable, such as adding a deck or installing a new front door. Homeowners should be cautious about hiring contractors that offer extremely low prices because the quality of work often suffers. It is also a good idea to check the contractor’s license and insurance coverage before hiring them.
While there is a large grey market of unlicensed companies, there are many legitimate contractors that provide excellent service. When choosing a contractor, homeowners should always get a written contract that includes the company name, address, and MHIC license number preprinted on it. Consumers should be wary of any contractors who refuse to provide this information or do not have a current MHIC license.
Having a well-planned project is essential to any home improvement project. It can reduce stress and costs, as well as increase the chances of success. Homeowners should start with a budget and a clear vision of the results they want to achieve. They should also consider the time and cost of different projects. Getting quotes from multiple companies can also be helpful.
The most popular home improvement projects for 2018 included updating kitchens, bathrooms and bedrooms. Homeowners spent $6,438 on average on these projects. Married couples with children were the most likely to undertake these projects, and they spent the most on average. Millennials, who only represent about 6 percent of homeowners, spent the least on home improvements in 2018. While these projects can be expensive, they can also improve your quality of life and add to your resale value. So, whether you’re looking to sell your home or simply want to enjoy it more, these simple improvements are worth the investment.