Home improvement is the process of renovating or making additions to a home. The industry includes the sale of building materials, appliances and decor as well as the contracting, installation and repair services provided by professionals. Home improvement can be a rewarding experience for homeowners but it can also be expensive and time-consuming.
Many homeowners decide to do home improvements to increase the value of their property. However, the return on investment for these projects can vary widely depending on a variety of factors. For instance, sparkling bathroom renovations and kitchen remodels are often viewed as the best home improvements to make because they tend to provide the highest returns, according to a recent report by Contractor Growth Network. However, it is important to keep in mind that these projects may not always pay off when it comes time to sell.
Another reason to do home improvements is to make the house more comfortable for residents. This can be achieved by adding an extra room or reworking the layout to better suit the family’s needs. Other reasons to do home improvements include addressing health and safety issues, increasing energy efficiency and beautifying the home’s exterior and landscaping.
During the COVID-19 pandemic, many homeowners took advantage of being confined to their homes by tackling DIY home improvement projects. From painting walls to installing shelves, it seemed as though America’s love of improving homes had never ended. But the trend is slowly fading as the lockdown winds down and homeowners are finding that spending money on home improvements isn’t always worth it when it comes to selling their homes in the future.
The best way to know whether a home improvement project is right for you is to research the return on investment. However, it is also important to remember that your personal comfort and enjoyment of your home should be your main motivation for renovations. If you renovate solely based on your desire to sell in the future, you might end up living in a showplace that doesn’t feel like your own.
If you’re thinking of hiring a contractor to do a home improvement project, always compare estimates before choosing one. Prices can vary dramatically between contractors and quality of work can vary as well. Look for a company with a good reputation, longevity in the business and a solid track record of satisfied customers. You can also ask friends, relatives and neighbors for recommendations.
Lastly, before any home improvement begins, get all contracts and warranties in writing. Maryland law requires all contractors to put their name, address and MHIC license number on the contract before any work begins and they must also provide copies of any relevant permits. It’s also a good idea to check with the local Better Business Bureau and your county’s consumer protection office to ensure that you are dealing with a reputable company.