Home improvement, also called home renovation or remodeling, is the process of renovating or making additions to one’s home. The industry comprises the sale of building materials, appliances, decor, and services offered by contractors and tradespeople. Home improvement is often done to improve a home’s resale value or simply for personal enjoyment. Some of the more common projects include installing new kitchens or bathrooms, adding bedrooms or baths, refinishing hardwood floors, replacing windows and doors, and upgrading heating, ventilation, and air conditioning systems.
Whether the project is big or small, it’s important to find the right contractor. The cost isn’t the only factor when choosing a contractor, make sure to compare their reputation, experience, insurance coverage and length of time in business. If possible, obtain recommendations from friends and neighbors. Then request a written estimate of the job and a contract with the terms of payment.
Considering the economic downturn, it’s not surprising that home improvements are a top priority for homeowners. But if you’re planning to sell your house in the future, it’s important to do only those projects that will pay off in resale value. If not, you’ll wind up spending money that doesn’t return enough to cover expenses and a buyer may reject your offer. A real estate agent can advise you on what projects will make the most impact on resale. Adding an master suite, for example, can dramatically increase resale value. But the most important thing to consider is your own comfort and enjoyment of your home.