Home improvement is a popular pastime with many different benefits. It can improve your comfort level, make you feel more satisfied with your home, and even help increase the value of your property. It can also be an expensive venture, so it is important to plan ahead before taking on a big project.
Homeowners have developed a renewed interest in home renovation projects over the past three years, and many are finding satisfaction in improving their living spaces. In this article, we will explore how the trend for home improvements has evolved, common renovations that have a high resale value, and how to avoid some common home improvement pitfalls.
It’s one thing to watch shows like Fixer Upper and This Old House on television, but it’s another to take the sledgehammer out into your own home and tackle some DIY projects. There are countless ways to make your house more comfortable and functional, but how do you know which upgrades will actually add to your property value? This guide will break down some of the most popular home improvement projects, their estimated cost, and how they can benefit your resale value.
How to Find Inspiration
When it comes to DIY home improvement, there are countless resources online that can provide you with expert tips and tricks on how to complete your project. In addition, there are also numerous TV shows that focus on the subject of home improvement. Some of the most popular include shows like Fixer Upper and This Old House, which feature real homeowners renovating their homes with the help of professional contractors.
While the COVID-19 pandemic spurred a spike in home improvements, it wasn’t necessarily the sole reason for this trend. People may have felt more compelled to upgrade their homes during the lockdown, but they had been planning to do so long before then. In fact, according to a survey conducted by NAR, 83% of surveyed homeowners had planned on making some type of renovation in the future.
The majority of homeowners who plan on undertaking home improvements in the near future aren’t looking to make their homes more appealing to buyers. In fact, just 20% of surveyed homeowners cite this as their main motivation for completing upcoming projects. Rather, 54% of them want to make their homes more comfortable for themselves.
The most effective way to increase the resale value of your home is by performing energy-efficient upgrades that will decrease your energy costs. This includes things such as new windows, insulation, and a heat pump. It is important to note that you should consult with a real estate agent before making any major home improvements, as they will be able to provide you with the best information on what types of projects will maximize your resale value. You should also avoid projects that will drastically outpace your neighbors’ homes, as this can deter prospective buyers. For example, adding a backyard fountain might seem appealing, but it could deter a potential buyer from wanting to purchase your home.