Home improvement projects can add beauty, functionality, and value to your house. However, some upgrades provide little return on investment when it comes time to sell.
For example, high-end upgrades like marble flooring may turn off some buyers. And expensive landscaping isn’t a great idea for most homes. But low-cost improvements, such as a new front door, can make a big difference.
Renovations
Renovating is a great way to add value to your home, but it’s important to choose projects that will actually increase the resale price of your house. Generally, renovations that focus on the kitchen or bathroom are the most likely to pay off in terms of their return on investment. Keeping up with basic repairs, painting and power washing the outside of your house are also low cost home improvements that can add to your resale value.
Home improvement is defined as the remodeling, altering, painting, repairing, renovating, restoring, modernizing, moving or demolishing of residential and noncommercial property and the making of additions to such property. This includes any indoor or outdoor work done in the garden, garage or basement and any work on the electrical, plumbing or heating systems. It can also include any work that improves the aesthetic of the house, such as painting or putting in new flooring.
The difference between a renovation and a remodel is significant, even though the two words are often used interchangeably. The word renovation means to revive something, and it usually involves upgrades such as repainting or refacing cabinets. A renovation can also involve a restoration, but it’s important to note that it usually doesn’t change the original design of the space. For example, a kitchen that is being renovated may be restored to its original state but the room will still be used as a kitchen.
A home remodel, on the other hand, changes the original design of a space. A remodel can be a complete transformation, like turning a dining room into a bedroom or converting a living room into a kitchen. It can also be a smaller scale, such as replacing cabinet doors or upgrading light fixtures. When a homeowner remodels their home, they often hire professionals to help with the project and must usually obtain permits from their local government.
Whether you’re planning to sell your home in the future or you just want to make it better for yourself, a few simple renovations can add value to your house. These improvements don’t have to break the bank, and many of them can be done with a little bit of sweat equity or DIY expertise. Just remember to choose projects that will actually increase resale value and consider how long you plan on staying in the home before selling.
Repairs
Home repairs are necessary to keep your home in good condition. They can include anything from replacing a broken window to fixing a leaky faucet. If you don’t do these repairs, your home may lose value or even become unsafe for occupants. Some home repair projects are simple and doable on your own, while others may require professional help from a licensed contractor or handyman.
Major home improvements add to the value of your property and can make it easier to sell in the future. Some of these are also tax deductible, according to TaxSlayer, but you’ll want to be sure you have the right documentation before claiming any deductions. Adding a new driveway, a new roof, insulation in the attic, built-in appliances and septic systems are considered major home improvement projects that can be claimed as tax deductions.
Minor home repairs keep your house in good condition and can save you money. However, they should be scheduled regularly and ideally done by professionals, as you could end up paying more if you wait for a repair problem to get out of hand. This is especially true for faulty electrical systems, water heaters and plumbing.
A less frequent type of home repair should be scheduled and budgeted for, such as repainting outdoor wood and metal, waterproofing masonry, cleaning septic systems and replacing old washing machine hoses (preferably with stainless steel ones that are less likely to burst). These tasks can easily be overlooked or delayed, which can lead to expensive consequences later.
It’s worth learning a few basic DIY home maintenance and repair skills, such as how to hang wallpaper or replace a light fixture. This will not only save you time and money, but it will let you take care of problems on your own instead of waiting for a contractor to show up. It’s always wise to check a potential service provider’s license and insurance and review business references before hiring them. There are online services that provide this information and act as a kind of aggregator for multiple contractors.
Additions
Home additions are a great way to create the space you need without moving. They can add livable square footage, value and a boost to your quality of life. However, there are many considerations to make before deciding on a major renovation.
The first thing to consider is your budget and zoning regulations. The best time to do a major project is during low interest rates, when it may be more affordable to take out a home equity line of credit or loan. It is also important to understand zoning requirements and building codes before beginning a home addition. Failure to follow zoning rules can lead to expensive fines and possible demolition of your addition.
House additions come in all shapes and sizes. A conventional house addition is a multi-room structure built on the side of your home. When well designed, the addition blends into your home and creates a new living area. This type of addition can include a family room, dining room, guest bedroom or master suite.
Sunrooms are a popular type of home addition. They are protected outdoor rooms that can be used for a variety of purposes, such as relaxing, entertaining or a secondary living room. Sunrooms are often glazed to allow light in but can be closed off for privacy when desired.
A basement or attic conversion is another type of home addition that can provide extra livable space. Depending on the size of your existing home, a basement or attic conversion can be a relatively inexpensive alternative to a conventional house addition. However, you should be sure to hire a qualified and experienced contractor to ensure that the work is done properly and in accordance with all local zoning regulations.
A master suite addition is a popular and cost-effective way to increase your living space. However, it is important to keep in mind that these types of additions don’t recoup the full investment when it comes time to sell your home.
Add Value
Home improvement projects can improve your quality of life and add value to your home. But it’s important to choose your home renovations carefully, especially if you plan to sell the house in the future. You want to choose home improvements that are popular with buyers and will give you a good return on your investment. You should also consider the overall aesthetic of your home and how the remodel will fit in.
There are many different kinds of home improvements that can add value to your house, from a new kitchen to a sunroom addition. Some of these projects are more expensive than others, but you can usually get a decent return on your investment. If you are thinking of selling your home in the future, it’s a good idea to talk to a real estate agent about what upgrades would be most attractive to potential buyers.
One way to add value to your home is by making it more energy efficient. By upgrading your insulation, windows and appliances, you can reduce your energy bills and save money over time. Other energy efficiency upgrades include adding a smart thermostat and installing solar panels.
Another way to add value is by renovating your home’s curb appeal. A fresh coat of paint can make a tired-looking house look new and inviting. A new driveway or deck can also add value to your property.
A home inspector can help you find out if there are any hidden problems that may affect the value of your house. If there are any serious issues, you should address them right away. A leaking roof, termite infestation or outdated electrical systems can all reduce the value of your home.
Homeowners have become more interested in upgrading their homes during the pandemic. The National Association of Realtors’ 2022 Remodeling Impact Report found that homeowners renovate for a variety of reasons, including improving worn-out surfaces and finishes, increasing their enjoyment of the home and adding features and livability.