Home improvement is a popular pastime and a great way to increase your living space. But before you pick up the sledgehammer, you should consider the pros and cons of each project. Some renovations are more likely to boost your home’s value, while others may not add any at all. And if you’re looking to sell your house in the future, it’s crucial to think about which projects will pay off the most.
It’s no secret that home improvements are expensive and time-consuming. But if you’re smart about the projects you choose and your budget, it is possible to make upgrades that will improve your quality of life without breaking the bank. Here are some of the most popular home renovations to consider:
1. Bathroom Renovations
Renovating your bathrooms is a surefire way to boost your home’s value, according to real estate experts. Sparkling bathrooms are always in demand, and they offer a high return on investment (ROI). However, you should keep in mind that not all remodeling projects will deliver the same ROI. Some, such as basement finishing, are more likely to add value than others, like replacing an outdated kitchen.
2. Extra Bedrooms
Many homeowners are interested in adding an extra bedroom to accommodate family or guests, and this is a good option if you’re planning on selling your home in the future. It’s also an excellent choice if you need more storage space or have a growing family. Just be sure that you’re not overextending your budget, as this can decrease your home’s resale value.
3. Energy Efficiency Improvements
Adding insulation, a heat pump, and new windows are cost-effective ways to improve your home’s efficiency and reduce utility bills. In addition, these kinds of projects will make your home more appealing to potential buyers when you’re ready to sell.
4. Kitchen Updates
Investing in a new kitchen is a smart way to improve your home’s value, and it can also yield an impressive ROI. But when it comes to remodeling your kitchen, it’s important not to go overboard. Sticking to a reasonable budget and choosing neutral colors will help your kitchen look its best.
5. Home Safety Improvements
Regardless of the type of home improvement you’re thinking about, it’s essential to prioritize your safety. For example, you should never undertake any electrical work without a licensed professional. In addition, you should always wear personal protective equipment when performing DIY projects.
Before you hire a contractor for a home improvement project, ask for references and check their business licenses and insurance. It’s also a good idea to compare prices between different contractors and to seek out a contractor that is licensed in your county, city, or state. In New York City, Suffolk, Nassau, and Westchester counties, for example, it’s a crime to perform home improvement work without a license. Those caught can face civil and criminal penalties. For more information, visit the Department of Consumer Affairs.