Home improvement can improve your house’s comfort and functionality, but it also can cost a lot. It’s important to start with a plan and a budget. If you remodel without a plan, you might end up paying more than you can afford or going into debt to finish the project. In addition, some renovations have a much lower return than others. A sparkling bathroom overhaul is more likely to pay off than a new basement.
Certain things are certain in life: death, taxes and home repair and improvement projects. While some are a necessary evil — a leaky roof or flooded basement, for instance — others can be an opportunity to update and beautify your house.
In the past, a desire for curb appeal and increased home value has driven many homeowners to undertake major renovations, such as installing hardwood floors or replacing old kitchen cabinets. However, a recent study found that these projects rarely deliver the anticipated returns for homeowners. In fact, only about half of homeowner-performed home improvements returned their costs to the homeowner.
Other upgrades are less costly and may still offer a good return on investment, such as installing energy-efficient windows or replacing old insulation. These kinds of improvements can decrease utility bills and make your home more appealing to buyers when you are ready to sell.