Home improvement, also known as home renovation or remodeling, refers to a variety of different projects that improve a property’s interior and exterior. This may include upgrades in the kitchen, bathroom, and bedrooms, as well as in outdoor areas such as the backyard or garage. Improvements may also be made to save energy, or for safety and security reasons.
The cheapest and easiest home improvements tend to be paint jobs, refinishing hardwood floors, and replacing worn or outdated lighting fixtures. Replacing or repairing a front door is another popular project that adds value to your home, and the cost of a new one is minimal compared to what it might raise your asking price.
If you’re renovating with an eye on a future sale, stick to mid-range updates that will appeal to a wide range of buyers. A high-end upgrade like marble flooring will be expensive and might put off some potential buyers. And don’t go overboard on landscaping. A lush, private backyard might be nice, but if your neighbors all have similarly manicured lawns, it won’t make your house stand out in a good way.
In addition to adding value, some home improvement projects can increase your enjoyment of your home. But it’s important to weigh the cost and benefits carefully before starting any project, especially if you plan on selling soon. And remember, going into debt is never a good idea.