Things to Keep in Mind When Planning Your Next Home Improvement Project

Home improvement is an important part of homeownership. It’s also a great way to improve your living environment and get a return on your investment, especially if you choose projects that increase your home’s energy efficiency. Here are some things to keep in mind when planning your next project.

Homeowners are spending more on home improvement than ever before. According to the National Association of Realtors, 2022 remodeling activity saw a major uptick during the pandemic. However, it wasn’t the pandemic that spurred this surge in renovations; rather, it was a combination of factors that made home improvements more attractive to homeowners. These include improving worn-out surfaces, finishes and materials (30%); adding features to the home (20%); and simply wanting a change (16%).

While many projects increase a home’s value, not all do so equally. It’s important to research the projects you are considering, particularly those that will add long-term value to your home. You may be able to find information on the Internet and through home improvement service aggregators. It’s also a good idea to speak with an experienced contractor before beginning your project. This will ensure that your ideas are sound and can be executed well.

During the current economic uncertainty, it’s a good time to consider a variety of options to maximize your home’s value and livability. Whether you’re looking to build a deck, install a new kitchen or bathroom, or even create a home office, the opportunities are endless. However, it’s important to keep in mind that while these projects might be a wise financial move for you, they won’t necessarily be attractive to a future buyer.

One of the most common mistakes is improving a house well above the average for the neighborhood. This can turn off a potential buyer because they may view the home as a “fixer-upper” or an overly personalized, non-traditional style.

The most popular home improvement projects are aimed at making the house more comfortable and improving its livability. However, only 20% of those planning to make upgrades say they’re targeting a future sale. Those thinking about selling in the near future should consider the effect inflation and the potential for a recession will have on their home’s value when planning projects.

The most important point is to stay on top of regular maintenance. This will help prevent small problems from becoming larger and ensure that your home is safe, healthy and secure. In addition, staying on top of repairs can help reduce the need for costly remodeling projects. Finally, homeowners should always remember that it’s okay to ask for help if they don’t have the tools, know-how or manpower to handle a home improvement project on their own. This will help them avoid serious damage, injury or even wasting money on half-baked projects that should have been left to professionals in the first place.

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