Home Improvement and Resale Value

Home improvement

Home improvement is a form of renovation or upgrade of a home, its interior and exterior. It may also refer to the repair and maintenance of existing home structures such as plumbing or electrical wiring. In addition, it may involve making a home bigger by adding rooms or storage spaces. Other common home improvements include upgrading the heating, ventilation and air conditioning system (HVAC), painting, landscaping the yard, and putting in a pool. Often, these projects are carried out for a variety of reasons; personal preference and comfort, necessity due to damage or age, and the desire to increase resale value.

There are few things that are more certain in life than death, taxes and, if you’re a homeowner, home improvement projects. Whether they come in the form of a leaky roof, flooded basement or some other can’t-wait task, these projects tend to pop up at unexpected times and cost you money.

However, when it comes to the resale value of your home, not all home improvement projects are created equal. In fact, some can actually decrease your resale value.

It’s important to make smart choices when it comes to your home improvements and know which projects will add the most value, so you can avoid spending money on renovates that won’t pay off down the line. And be sure to keep in mind that, even if you think a project will add value, that doesn’t mean buyers will agree – and they’ll likely offer a lower price for your home as a result.