Home Improvement Boosts Resale Value

Home improvement is the work done to a property for the purpose of increasing its comfort and utility. It also raises neighborhood standards and can help to increase the local housing market, as well as provide opportunities for employment and business for contractors and supplies. Home improvements often include the replacement or repair of existing materials and systems, such as plumbing, heating, electrical and roofs. The work can also include landscaping and the addition of yard features, such as driveways, sidewalks, porches, patios, fences and garden areas.

During the pandemic, many homeowners invested in upgrades. But according to the National Association of Realtors, the remodeling boom was due more to an existing desire to improve their homes rather than a response to the pandemic. In fact, the NAR’s 2022 Remodeling Impact Report found that 83% of surveyed homeowners planned to remodel before the pandemic began.

In general, home improvement projects with the best return on investment are those that make a house more functional and attractive. So, while it may be tempting to create a backyard paradise, the best way to add value is by making modest improvements that will appeal to a wide range of buyers.

For example, installing a new front door and adding curb appeal by pruning and mulching can have a big impact for a relatively small cost. On the other hand, a hot tub and expensive fountain in the backyard may turn off potential buyers. If you’re planning to sell your home in the near future, it’s wise to talk to a real estate professional about what kinds of upgrades will boost resale value.

Posted in: Gambling