Home improvement is an area of residential house renovation, which can be done to improve the condition of the home, make it more energy-efficient or increase its appeal. Home improvements can be made in a variety of ways, such as painting the home, putting in new flooring or landscaping the yard.
Many people renovate their homes to add value and make it more livable. Other reasons include updating the kitchen or bathroom and converting the garage into a living space. Home buyers often prefer a home that has updates like granite countertops and hardwood floors. It’s important to think about what improvements will add the most value and be appealing to potential homebuyers.
The cost of materials is up, but that didn’t deter 24.5 million homeowners from completing home improvement projects last year, according to a report from Harvard University. The most common upgrades included remodeling a bathroom, adding a front door or replacing the garage door.
While it may be tempting to make over your home with a hot tub and fountain in the backyard or installing a pool, such expensive renovations are unlikely to increase your asking price when you’re ready to sell. Stick with mid-range upgrades that will appeal to a broad range of buyers. It’s also a good idea to talk to real estate professionals to find out what types of upgrades are most popular in your neighborhood. And remember to update your home insurance policy as you complete your renovations.