Home improvement is an umbrella term for a number of projects that are typically carried out to improve or repair the internal and/or external aspects of residential property. These can include garden work, garage maintenance/additions and improvements to the building itself.
The most popular renovations are those that have a direct impact on the resale value of a home. These include:
Additions (for example, adding a new room or space) can increase the overall value of the home; these can also improve the living conditions in the existing room/space.
Remodeling, a common type of home improvement, can be used to make improvements to the interior or exterior of a home; this is typically done by a professional contractor.
If you’re going to take on a major home improvement project, ask a professional to walk through the house and help you with a plan. They’ll tell you about things like paint colors and furniture placement that can help you save money or make the space more functional.
Often times, a design professional will be able to provide you with advice on which home improvements are more likely to increase the resale value of your home. They may also advise you on which renovations can actually cost you money in the long run, such as putting down a $10,000 kitchen range or installing marble floors in your bathroom.
When it comes to resale, it’s important to remember that the home’s value is always influenced by what other homes in your neighborhood are selling for. You can’t afford to do a renovation that makes your home pricier than the average price in your neighborhood, says real estate agent Jason Fisher.