Home improvement, or renovation, is a term that refers to any work done to improve one’s home. It may involve resurfacing or upgrading an existing building, adding rooms and spaces to the property, making repairs or improvements that increase safety or function, or changing the layout of the interior.
The most common reason for home improvement is to make the house more livable, but it can also be done to increase a home’s value. Some projects offer an immediate return on investment (ROI) while others take a while to pay for themselves, but they are worth it in the long run because they increase your comfort and enjoyment of the home while increasing its market value.
Adding or Extending Your Home:
Whether it’s an extra bedroom, bathroom or living space, adding or expanding your home is one of the best ways to add value and functionality. The cost of this type of renovation can vary greatly depending on the size of the addition, the materials used and your budget.
Selective Updates:
For homeowners on a tight budget, selecting a few small updates can dramatically enhance the overall look of a room. For example, replacing an outdated shower or tub can give a dated bathroom a fresh new look without breaking the bank. Other affordable updates include installing new faucets, handles and sink and shower fixtures.
Paint:
If the walls of your home are a faded, outdated color, painting is a simple and inexpensive way to make them fresh again. You can find plenty of affordable paint options at your local hardware store or home improvement center.
Limewash:
If you have an old or outdated brick exterior, consider updating it with limewash. This paint penetrates the brick itself, which can help it last longer and look better with minimal maintenance.
Energy Efficiency:
Upgrading your home’s energy efficiency is a great way to add value. Projects like a smart thermostat, insulation and replacing older windows can help to lower your energy bill and make the house more comfortable.
Landscaping:
If your landscaping needs an upgrade, resodding the lawn and shrubs can be a very affordable way to boost the home’s curb appeal. If you have a large backyard, building a deck or putting up a fence could be an even more attractive option.
Getting Ready To Sell:
If you’re planning to put your house on the market in the near future, it’s important to keep the home’s value in mind as you start thinking about remodeling or renovations. You don’t want to do something that will decrease your home’s value, such as adding too much landscaping or a swimming pool, and you should always hire a professional to complete any renovations.
The Home Improvement Industry:
Home improvement is an industry that is thriving, especially as people struggle to pay off debts and meet other financial obligations. The number of people doing home improvements is up, mainly due to the fact that rock-bottom interest rates have made many consumers more likely to spend on their homes.