Home improvement is any type of renovation, repair, change or upgrade to a residential home. The term is generally used to mean changes to the exterior or interior of a house, such as painting, remodeling kitchens and bathrooms, adding doors or windows, removing wallpaper, building additions, putting in new carpeting or hardwood floors, and much more. In the United States, many homeowners use a personal loan to finance their home improvement projects. It can be a better option than mortgage financing, as it allows you to pay back the money over time without interest.
Home improvements add value to your property, which in turn can boost your resale value when you’re ready to sell. But some projects are more valuable than others, and it’s important to keep that in mind before starting a project.
A major overhaul like a kitchen or bath remodel may have the most impact on resale, but even smaller upgrades can make a big difference. For example, a fresh coat of paint can dramatically improve the look of a room, while re-grouting tile or power washing your home’s exterior can drastically boost curb appeal. And some DIY home improvement projects can be cheaper than you might think: a simple backyard herb garden, for example, can be very rewarding. The key is to stay within your budget and avoid getting carried away with expensive options you may regret down the line. To help with that, some homeowners choose to pay for their home improvement work in cash, which can allow them to avoid interest payments and avoid overspending.