Home improvement, also known as home renovation or remodelling, is the process of improving the interior or exterior of a house. Home improvement projects can be undertaken for a variety of reasons, such as adding comfort or functionality, increasing the value of the property, and resolving issues with the home’s structure or systems.
The idea of a fresh coat of paint or a new kitchen might make you feel like a DIY Bob Vila, but jumping into a home renovation without a plan can be dangerous. Especially in the current housing market, where homeowners are largely staying put rather than selling and buying another house, it’s important to consider how any changes will affect your property’s value.
One way to ensure any home improvement investments you make will add to your property’s value is by focusing on projects that improve your home’s energy efficiency. A smart thermostat, for example, can lower your energy bills while improving your home’s efficiency. Other ways to improve your home’s energy include installing insulation and replacing old windows.
Other upgrades that might increase your home’s resale value include a well-maintained lawn and flower beds, as well as any remodeling projects that create open floor plans. According to Angi, these improvements will appeal to the majority of potential buyers. However, any renovations that make a house stand out too much in the neighborhood might turn off potential buyers. This could include things such as a pool or a finished basement.