Home improvement is the repair, maintenance or restoration of residential real property. It is a multi-billion dollar industry that includes the sale of building materials, appliances, equipment and decor to improve homes, as well as the services provided by contractors, installers and remodelers.
In general, the most popular improvements among homeowners are sparkling bathroom overhauls, followed by big-ticket kitchen and basement renovation projects. However, if homeowners do not choose their renovations carefully, these projects may not be worth the investment. According to data from the Contractor Growth Network, only about half of all homeowner remodeling projects recoup their costs when it comes time to sell the home.
If you are planning to undertake a major home improvement project, it’s important to do your research and settle on a contractor that has a good reputation in the industry and who is licensed by MHIC. It’s also a good idea to perform background checks such as verifying license and insurance, checking business references and performing an inspection of past work before making any payments or signing a contract.
The best home improvement projects are those that will not only make your home more comfortable and attractive, but will also add to the overall value of the property. However, some improvements might not increase the resale value of your house because they are too personalized, go beyond the taste of average buyers or are not in line with the style of your neighborhood.