Home improvement has become a popular pastime for many homeowners, who are looking to update their living spaces or make their homes more energy-efficient. However, these projects can be dangerous and should only be completed by a professional contractor with the proper safety equipment and knowledge.
One of the most common reasons for remodeling a home is to increase its value, which can be accomplished through a variety of ways. A kitchen remodel, for example, can add a lot of value to the home and make it more attractive to buyers. Homeowners can also improve the home’s energy efficiency by installing new windows and a heat pump, which will save money on utility bills over time.
Another way to increase the home’s value is to add a bedroom or bathroom, which can also be done at an affordable price. These renovations can make a home more comfortable and increase the amount of living space available for family members or guests.
When deciding on the types of renovations to make, it’s important to consider the needs and tastes of the homeowner. Renovating solely based on what will appeal to potential buyers can lead to an overly-designed home that doesn’t necessarily feel like the right fit for the owner.
The most popular types of home improvement projects are those that are focused on outdoor areas, such as adding a deck, planting trees and shrubs or building fences. These projects are often more affordable than other improvements and can make a home look fresh and new. They can also be a great way to increase the value of a property by creating an appealing outdoor living area.
Other popular home improvement projects include repainting and replacing the roof. These upgrades are generally less expensive and can be completed quickly. However, it’s important to consult with a real estate agent or other professionals about specific renovations that will add value to a home and which ones may be overly costly.
Whether you’re doing a small renovation or a major overhaul, it’s important to set a realistic budget before starting. This will help you avoid overspending and can ensure that the finished product meets your expectations. Also, be sure to include a 10-15% buffer in your budget estimates for unexpected costs.
Finally, be sure to read all contracts carefully and only hire contractors who are licensed and insured. A contract should contain a timeline for work to be completed, a payment schedule and as many details about the project as possible, including types or brands of materials. It should also disclose any warranties or guarantees that may be included with the work.
The good news is that most homeowners are able to afford their home improvements without tapping into savings or going into debt, according to NerdWallet’s September survey. In addition, rock-bottom interest rates are making it more affordable for people to remodel their homes. The bottom line is that it’s never been a better time to renovate.