Home Improvement Ideas to Increase Your Home’s Value
Home improvement is a huge industry that encompasses the sale of building materials and decor, as well as construction services. It has grown in popularity over the past decade, fueled by rock-bottom interest rates and consumer confidence.
The American Housing Survey, released every two years, finds that 78% of homeowners who have home improvement projects on their to-do list have mainly paid for them with cash. Others have tapped into emergency savings, exhausted their credit cards or borrowed against the equity in their homes to get the job done.
If you have a budget, be sure to consider resale value when you’re considering your next home renovation. If your new kitchen or bathroom will make your house more appealing to potential buyers, it’s worth spending the money on a top-quality remodel.
A reputable home inspector can spot hidden problems that could damage your home and detract from its resale value, so it’s important to hire one before you start on any major renovations. A good inspection will also identify any issues you may not have noticed, such as leaking roofs or termite infestations.
Getting the right advice from a designer is always a good idea when planning a big home renovation. It’s worth it to invest a small fee in an hour-long consultation with a professional who can help you decide on design options that will make your house more attractive and comfortable without going over your budget.
The majority of home improvements that are done to increase a home’s value are safe bets, says Matt Steckel, vice president and chief economist at Zillow. These include projects that add square footage, like finished basements and decks, as well as updates that make your house more functional, such as an updated kitchen or renovated bathroom.