Home improvement refers to the repair, renovation or modernization of a house. This can include upgrading the home’s interior, such as by adding a new bathroom or kitchen, or changing the exterior of a house, like installing a deck or putting in a pool. It also includes work done to make the home more energy-efficient or to improve safety.
According to the National Association of Realtors, some of the most valuable home improvements are kitchen upgrades and bathroom remodels. Replacing old, outdated appliances with newer, more efficient models is an easy and affordable way to add value to a home. Upgrading a kitchen’s cabinets and countertops is another great way to increase the home’s value, as well as to improve its aesthetics.
In addition to making a home more attractive and comfortable, some home improvement projects can improve the resale value of a property or reduce a homeowner’s utility bills. For example, installing a heat pump and replacing old windows can decrease the cost of heating and cooling while increasing a home’s energy efficiency.
As you consider the types of home improvement projects to tackle, it’s important to keep in mind that not all projects will be beneficial. Choosing the right project for your home depends on your personal preferences, as well as the needs and budget of your family. Before you pick up a hammer or drill, speak with a real estate agent or home insurance specialist to learn which projects will provide the greatest return on investment.