Home improvement is the act of repairing, altering, renovating, converting or modernizing the interior or exterior of a building. The term “home improvement” also applies to the modification of an existing commercial structure or the conversion of a nonresidential building to a residential use. It is a major industry that contributes to the economic growth of countries around the world.
Regardless of whether you are planning a big project or simply updating a few small details, the smartest way to remodel is to think strategically about what will add value in the long run and keep your renovations as streamlined as possible. This means avoiding over-personalization and keeping your upgrades consistent with the neighborhood. For example, while you may love the idea of a marble bathroom, it is unlikely to appeal to a wide range of buyers and could actually deter some from purchasing your home.
If you are planning to take on a DIY project, it is important that you have a well-stocked toolbox and have a clear understanding of what you are getting yourself into before you start swinging a hammer. It’s also important to choose a project that matches your skill set and is within your comfort zone. If you’re new to home improvement, opt for a smaller project that is more manageable and don’t be afraid to ask for help if necessary.
A few key home improvement trends for 2023 include making repairs and updates that improve a home’s energy efficiency. These improvements will not only benefit current homeowners by reducing their energy bills, but they’ll also be appealing to potential buyers in the future who are looking for greener homes.
Another popular project is adding crown molding, which can make a huge difference in the look and feel of a room. It’s easy to install yourself with the right tools, and it is a relatively inexpensive update that can really brighten up a space.
The good news is that home improvements generally add value to a property, according to the experts at RenoFi. However, it is important to note that this doesn’t mean you will get back the full amount of money invested in the project when you sell your home. In fact, the return on investment can vary depending on the type of project you undertake and the location of your home.
Homeownership has a tendency to awaken the inner Bob Vila in all of us, but it’s important to stay grounded and have a realistic understanding of what you can achieve on your own and what projects will be best left to professionals. Having an expert on board can make all the difference when it comes to minimizing stress and saving time, money and headaches in the long run. It’s also important to remember that home improvement is a process and should be taken one step at a time. Lastly, don’t forget to obtain proper insurance before you begin any home improvement projects. This includes a home owners policy and a structural warranty to protect your investment.