Whether you’re looking to sell your home or just want to live in a more upscale space, completing home improvement projects can help increase your property’s value. But before you jump into a renovation, make sure you know what will and won’t add to the overall value of your home.
Home improvement is a broad term that encompasses many different types of projects and can be used for both big-ticket and small-scale improvements. It can include landscaping, decks, and other exterior changes, as well as kitchen and bathroom remodels.
If you’re planning on a major project, consider working with an architect or designer to create a plan that will ensure the work you do will be compatible with your home’s existing structure and aesthetic. These professionals can also offer advice about what upgrades will boost your property’s resale value.
Some of the most popular home improvement projects in 2021 are those that will increase your home’s livable square footage. This includes adding a bedroom or a bath, finishing a basement or turning your garage into a living area.
For example, a basement addition that can be converted to a family room or entertainment area can add a lot of livable square footage and may also boost the overall price of your property.
One of the most affordable ways to add value to your home is with a new front door. This simple upgrade can improve your home’s curb appeal and help attract buyers.
Another project that is surprisingly inexpensive to do yourself is to install crown molding in your home. These decorative strips are available at most home improvement stores and can be nailed into place to dress up your walls.
While crown molding does require some woodworking skills, it’s a low-cost DIY project that can help you add character to your home.
Other home improvements you can do yourself include painting, repairing damaged flooring and gutters, power washing your house and replacing old window sills and light fixtures. Getting your home’s maintenance and repairs done now will prevent problems later.
Before you begin any of your home improvement projects, be sure to have a budget in mind. This will help you plan your projects and determine which ones will be more cost-effective than others.
A good rule of thumb is to try and keep your budget below 15% of the total square footage of your home. This will help you avoid overspending and allow for any changes and improvements that come along as the project progresses.
For smaller home improvement projects, you can often pay for them with a credit card that has a 0% APR period for a year or more. It’s a great way to finance small upgrades that you can afford but don’t want to commit to paying in full right away.
Before you hire a contractor, be sure to compare bids from several contractors. You should consider price, but it’s just as important to look at other factors as well, such as experience and reputation. Choosing the best contractor for your project can help ensure that your project is completed on time and at a reasonable price.