Home Improvement – How to Make Your Home More Liveable and Attractive
Home improvement is a major industry that encompasses the construction, renovation and remodeling of homes, as well as the sale of building materials, appliances, decor and furnishings. It also includes the services of contractors, tradespeople and other workers who help with home improvement projects. Home improvement projects have been popular during the COVID-19 pandemic and beyond, as homeowners sought to make their houses more livable and attractive.
While the idea of remodeling your home is a great way to increase its value, it’s important to select upgrades that will appeal to potential buyers. A few common mistakes, like choosing unique light fixtures or installing high-end kitchen appliances, can actually detract from your home’s resale value.
The best home improvements are those that will enhance your family’s quality of life while keeping you comfortable in your current home. This is why many homeowners choose to remodel their bathrooms, kitchens or living rooms. These projects typically produce a high return on investment (ROI) and can improve your home’s resale appeal. However, there are some projects that are less likely to add value, such as adding a pool or replacing your roof.
It’s important to hire a qualified contractor for your home improvement project. While there is a large ‘grey market’ of unlicensed contractors, you should look for those that are members of a reputable association and/or are accredited by a professional organization. In addition, you should perform background checks such as verifying license and insurance and checking business references before hiring a contractor.
A full-home remodel is an expensive undertaking, and the amount you spend will often exceed the expected ROI. However, there are some small and simple projects that can be done for a reasonable cost and still add value to your home. Painting, re-grouting tile and power washing your house are easy to do DIY projects that can boost your home’s curb appeal without breaking the bank.
Having enough money to cover your planned renovations is essential. You can save for a project by setting aside money each month, using a credit card with an introductory offer or tapping into your home equity to finance the costs of a larger project.
If your home improvement project is a necessity because of health conditions or to accommodate the needs of a family member, you may be able to claim it on your tax return. Other home remodeling projects that qualify for a deduction include those designed to accommodate the disabled, such as ramps and handrails, as well as long-term care costs.
Whether you’re tackling a minor repair or a major remodel, it’s important to budget for unexpected expenses and to set realistic expectations about your project’s timeline. Otherwise, you could end up spending more than you intended or struggling to sell your home when the time comes. By planning for these challenges, you can avoid costly mistakes and ensure your renovations are a smart investment in your future.