From sprucing up the kitchen to adding a new bedroom, there’s always something to do around the house. But before you pick up the sledgehammer, it’s important to understand what projects will add value to your home and which ones could make it less likely to sell in the future.
Home improvement refers to any renovation or remodeling work that makes a dwelling more functional, appealing or comfortable. It may involve work on interior or exterior parts of a building, or on the grounds surrounding it. Typically, homeowners undertake home improvement projects for a variety of reasons: to improve the property’s value or to make it more functional; to personalize the space; or simply to save money on energy costs.
The coronavirus pandemic has made people spend more time at home, which is good news for homeowners who want to spruce up their living spaces. About 3 in 5 homeowners have taken on DIY home improvement projects since March 1, according to a NerdWallet survey. But about half of those same homeowners say they wouldn’t allow home repair or improvement professionals into their houses due to safety concerns about the pandemic.
Before you start swinging that sledgehammer, consider the following tips from expert remodelers. And don’t forget to keep a 10-15% buffer on your project estimates, because there’s always a good chance that unexpected expenses will come up. You don’t want to end up spending more than your home is worth, or worse, going into debt for your remodel.