Home improvement, also known as home remodeling, is a type of renovation that adds value to a house. The practice is popular among homeowners as it allows them to customize their living space while still remaining within their budget. Many people renovate for a variety of reasons, from increasing the home’s overall comfort level to adding more living space for family members.
In order to improve their home, many homeowners will hire a contractor to complete various renovation projects. The scope of the work often depends on what needs to be done and whether it is a simple repair or an extensive remodel. While some home improvements can be done by the homeowner themselves, hiring a professional is often a good idea to ensure the job is completed properly.
Some home improvements increase the value of a property while others do not. The biggest mistake that many homeowners make when it comes to home renovation is spending money on upgrades that will not return a profit when they decide to sell their house. Some common home improvement projects include adding a new bathroom, kitchen or deck, installing a pool, and upgrading heating, ventilation and air conditioning systems (HVAC).
These upgrades can improve a property’s curb appeal and increase its usable space. However, some trees may be a detriment to a property’s value, according to the landscaping experts at Trees R Us in Columbus, Ohio. They recommend avoiding certain trees, including oak, female ginkgo biloba and sweet gum, as they can cause damage to the home’s foundation and impose costly maintenance costs on the homeowners.
Another common mistake that many homeowners make when undertaking a home renovation project is taking on too much debt. It’s important to know how much a project will cost and the approximate timeline before agreeing to it. Doing so will allow you to compare prices from different contractors and avoid any surprises down the road.
It’s also a good idea to get all of the non-negotiable details outlined before beginning any renovations. This will prevent the need for expensive last-minute changes that can increase stress and expenses.
In addition, a well-planned home improvement project can help save money in the long run by decreasing energy costs. For example, installing a new heat pump or adding more insulation can decrease utility bills while improving a home’s energy efficiency. Homeowners can typically expect a 70 percent return on investment for these types of upgrades. This is the average for most home renovations, according to a study conducted by Angi, an online contractor search and review service.