Home improvement, also known as house remodeling, can be a great way to add value to your property. It can also be a great opportunity to make your house more comfortable and inviting for you and your family. It can even save you money on energy bills. However, not all home improvements are created equal. Some may even decrease the value of your property.
Home improvements include any remodeling, painting, repairing, renovating, restoring, modernizing or adding to a residential building. This includes everything from installing insulation to refinishing your hardwood floors. The Home Improvement industry is made up of retailers that sell building materials, appliances, decor and other home enhancements as well as contractors and tradespeople who perform these services.
Some common home improvement projects include replacing old carpeting and flooring, repainting and redecorating rooms, putting in crown molding and adding a deck or patio. Many of these can be done by yourself with the help of some basic tools and a free weekend. Other upgrades may be better left to professionals.
When it comes to determining what upgrades will add value to your home, consider the average price per square foot in your neighborhood and be wary of spending a lot of money on high-end features that may not appeal to buyers. For example, a sparkling bathroom overhaul is one of the most popular home improvement projects for homeowners, but it can only bring a return on investment of about 60 percent, according to RenoFi.