Home Improvement – Adding Curb Appeal and Increasing Resale Value
Home improvement, also known as home renovation or remodeling, is the process of renovating one’s house to improve its functionality, comfort, and appearance. It may also be performed to increase the resale value of the home.
A home improvement project can involve anything from installing a new front door to building an addition. It is important that a homeowner consults with an architect or contractor before beginning any major improvements to ensure the work will be done correctly and within budget.
The most valuable home improvements are those that add curb appeal and make the house more functional. A well-appointed kitchen is often a top priority for buyers, so investing in energy-efficient appliances and upgrading your countertops can boost your home’s resale value. Other high-return projects include adding a master suite, converting garages into living space and replacing the roof and siding.
Some home improvements can actually decrease a home’s resale value, depending on how they are designed and the target market for the property. For example, a recording studio in your basement may be a fun addition for you, but a family with young children would likely not find it appealing and could even reject the home as a result.
However, if you choose to make capital improvements that save energy or last longer, you can deduct their costs when you sell your home. This can help offset the initial investment and reduce the overall cost of ownership.
