Home Improvement – How to Add Value to Your Home

Home improvement is a multibillion dollar industry that encompasses a wide range of activities, from small improvements like adding decor or changing light fixtures to more substantial renovations such as installing a new kitchen or bath. The home improvement market is driven by consumers who seek to improve the appearance, functionality and value of their homes. The industry comprises a variety of sectors including construction, retail, and services.

Depending on who is doing the talking, returns on home improvements can vary widely from over 100% to just a few percent, which is why it’s important for homeowners to understand what projects will actually add value to their home.

The best way to add value to your home is by keeping up with basic maintenance, but there are also many easy and inexpensive DIY upgrades that can make a big impact. Changing light bulbs, re-grouting tile and repainting are all low-cost ways to refresh your home.

If you’re considering more substantial renovations, it’s wise to consult a real estate professional before beginning work. They can help you determine which upgrades will attract the most buyers and if the added cost is worthwhile for your particular situation.

One popular home improvement project is adding a master suite, complete with a private bathroom and walk-in closet. However, if you’re planning on selling your home in the near future, it’s important to choose improvements that will appeal to the majority of potential buyers. For example, avoid making your home too personalized or unique, which could deter rather than attract potential buyers.