Home improvement is a common project that many homeowners take on to upgrade their property. However, not all projects are created equal when it comes to recouping the original investment or improving the overall look of a house. It’s important to select a renovation project that is both cost-effective and high-impact to ensure the best return on your investment when it’s time to sell.
According to a recent study by Houzz and Home, 2022 home improvement spending increased from the previous year. The report states that homeowners were most likely motivated by factors including increasing home value, improving livability and aesthetics.
Regardless of the reason for upgrading, it’s important to choose a contractor with a solid reputation. Consumers can perform checks such as checking business references, verifying license and insurance information and MHIC licensing numbers online to avoid working with unlicensed contractors.
The categories of work surging the most include deck construction, which has increased more than threefold, and fence construction, up 144%, Anderson says. The surge is also attributed to rock-bottom interest rates and people’s desire to “invest” in their homes.
It’s also a good idea to keep up with routine maintenance tasks, such as replacing worn doorknobs and cleaning out gutters. Neglected maintenance issues can turn into costly repairs that decrease a home’s value or lead to safety hazards.