Home Improvement – How to Add Value to Your Home Without Spending a Fortune
Home improvement is the act of improving or repairing the interior and exterior of a house. The term also includes rewiring or adding new electrical installations, adding plumbing fixtures or appliances and adding insulation to a building. It is a common misconception that home improvements must be done by professionals; however, there are plenty of DIY projects that will increase the value of your property.
Homeowners can find a lot of useful information about home improvement on the Internet. It is recommended to get estimates from several contractors before making a decision. Besides price, you should consider the type of firm, reputation and experience. It is also recommended to look for business references and membership in a professional organization.
The majority of home improvement projects are paid for with cash from savings, according to the American Housing Survey. Other sources of funding include cash-out refinancing, home equity loans and contractor arranged financing. The 6% of respondents that chose “something else” likely meant personal loans or borrowing from friends and family.
Whole-house renovations may add resale value, but they can be costly. A more practical option is to make minor upgrades that will have a big impact without draining your bank account. Refreshing shower areas, laying new tile, replacing vanities and power washing the siding are all low-cost, high-value upgrades to consider. It’s also important to keep in mind that many upgrades, such as marble flooring and high-end appliances, may not appeal to all buyers.