Home improvement, also known as home renovation or remodeling, is the process of improving or repairing a home’s interior or exterior. Improvements can include replacing fixtures, such as kitchen faucets or bathroom sinks, refinishing wood surfaces, adding new flooring, painting walls and upgrading electrical systems. It can also include making additions to the home, such as a sunroom or deck, or building a garage or shed. Home improvement projects can be expensive, so it’s important to plan carefully and budget for them.
People renovate their homes for many reasons, like increasing the home’s value, selling it or just making the most of the space for themselves and their family. However, jumping into a house renovation without a plan or budget can quickly get out of hand. To help, we’ve compiled a list of the most popular home improvement projects and what they typically cost.
Keep in mind that some projects will have a negative effect on resale value, depending on how customized they are to your needs and tastes. For example, if you install a home recording studio, potential buyers may not be interested in paying top dollar for that feature. If you’re unsure of how a particular project will affect your home’s value, talk to a real estate agent before proceeding with it.
Some improvements aren’t necessarily aesthetic but essential, such as fixing a leaky roof or updating the heating and cooling system. Putting these types of projects at the top of your to-do list will ensure that they’re taken care of before you sell.
The most popular and effective home improvements are those that increase your living space and add value to the property. This can be as simple as adding a master suite, or as complex as converting an attic to a living room. Adding a garage or sunroom to the home is another way to increase living space and can be a big selling point.
Other popular house renovations include updating the kitchen with new cabinets and countertops, refinishing or replacing floors, painting walls and installing lighting. If you’re on a budget, look for midrange options that offer the same visual impact as high-end finishes but won’t break the bank.
Outside the home, a fresh coat of paint and some well-placed landscaping can give your house curb appeal that will attract potential buyers. Replacing an outdated front door and dressing it up with some welcoming plants is an inexpensive way to make a dramatic impact at the entryway. A new driveway or a fence also adds to the overall value of your home. Keep in mind that any time you make a significant improvement to your home, you should talk to your home insurance agent to update your policy. This will ensure that your current home insurance coverage meets the new value of your property. It’s always a good idea to compare quotes from several providers to be sure you are getting the best deal.