Home improvement is an apt term for the work that homeowners undertake to improve their homes and increase their value. It can involve anything from installing new windows and painting a room to building an addition on the back of the house.
The best way to decide if a home project is worth it is to think about whether or not it will help buyers see your home as somewhere they would want to live. Some renovations may not make a home more desirable, while others can actually detract from its resale value.
Choosing the right home projects can be tricky. It’s easy to get swept away by what looks cool or is the newest trend, but that can be expensive.
What’s more, some renovations that increase a home’s resale value aren’t always worth the money, says Mischa Fisher, chief economist at Angi, a contractor search service and house renovation site.
A master suite, for example, will add a lot of value to a home, but only if it’s well-designed and includes all the necessary features — like a walk-in closet, private bathroom, and dressing area. It’s important to discuss these improvements with a real estate agent before making them, because if they don’t appeal to a wide range of potential buyers, the investment could be a waste.
A smart thermostat, for instance, is a great investment that reduces energy bills and makes your home more efficient in the long run. In addition, updates that make your home more resilient to natural disasters such as flooding and fires are also likely to be popular in 2023.
