Home improvement is a way for homeowners to make their houses a bit more functional, attractive and livable. It also can increase the value of a property.
But, as with any investment, it’s important to choose your projects carefully. Some improvements will not add a lot of value, while others may actually detract from your home’s resale value. If you’re considering a major renovation, it’s always a good idea to consult with a real estate agent or other home-sale expert.
The good news is that there are many ways to get started on your next home improvement project. Many of these are inexpensive and do not require professional help. Many homeowners start with something simple like painting a room or replacing light fixtures. Other common projects include refreshing shower areas, laying new flooring or adding landscaping.
According to the 2022 Remodeling Impact Report from the National Association of Realtors, many homeowners began upgrades during the pandemic. However, the NAR found that they were not necessarily doing so to make their homes more marketable in a future sale. Instead, most cited improved satisfaction and comfort with their homes.
The categories of home improvement surging the most are those that are outside of the house. The report shows that deck construction is up 275% and fence construction has increased 144%. One of the most common reasons why these projects are increasing is that rock-bottom interest rates are making it more affordable to pay for them.
