Home Improvement and Resale Value

Home improvement is the process of making changes to improve or upgrade a home. These improvements can include remodeling or adding rooms, changing the exterior of a house, and improving landscaping.

Home renovations can be a great way to enhance your living space, but it’s important to think through your plans carefully and consider how any changes might impact your resale value. It’s also a good idea to consult with a real estate professional before you start any projects that could significantly increase your home’s cost.

Some home renovations, such as sparkling bathroom overhauls and basement remodels, can make a big difference when it comes time to sell. However, other renovations may not provide a return on investment. For example, putting in an expensive fountain or hot tub when other homes in your neighborhood are modest may send the wrong message to potential buyers and detract from your home’s overall resale value.

While rock-bottom interest rates are making home improvements more attractive, many homeowners are holding off on hiring contractors because of the coronavirus pandemic. But those who do have renovation plans should work with reputable contractors and create a well-defined project plan that includes an estimated timeline for the work to be completed and a payment schedule. It’s also wise to check with local municipalities about the required inspections and certificates of occupancy before starting any work.

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