Home improvement is anything that adds value, prolongs the life of or adapts your home to new uses. Examples include installing a new roof, repaving your driveway or redoing the kitchen and bathroom. Home improvements also include a wide range of repairs, such as replacing worn doorknobs, painting rooms and fixing leaky faucets. However, not all home improvement projects will increase your home’s resale value or yield a return on investment when you sell it.
Choosing a remodeling project that increases your comfort and enjoyment while you live in your home is often the best way to get the most out of your investment. But you should never renovate solely based on what you hope will be your home’s resale potential – you may end up with a house that does not feel like a true home to you.
You should always carefully research any contractor you consider hiring to perform a home improvement project, especially on a large-scale remodel or addition. Ask for references, a copy of their business license and proof of insurance. You should also check if they are a member of a trade association or accredited by a professional organization. It’s also a good idea to avoid contractors who solicit you on the street or by phone.
Whether you want to improve your home to make it more attractive or you’re planning on selling, you’ll need to determine how you’ll pay for the work you plan to do. You can save up and pay as you go or choose a financing option that works for your budget. There are a number of plans that offer reasonable rates and terms, depending on the type of work you need to do and your creditworthiness.