Home improvement is an industry that provides building materials and services to enhance residential property. Its revenues have reached excellent growth results in recent years and it is expected to maintain a positive trend in the future. Home improvements are often done in order to add value or improve the functionality of a home, but sometimes it can be simply for aesthetic reasons. Some improvements are also made to increase a home’s safety and security.
A few things to remember when undergoing a home improvement project include:
Always get a written contract and make sure that it includes the price, timeline for work to be completed, a payment schedule and as many specifics as possible (such as types or brands of materials) on large projects. It should also contain an arbitration clause.
Be sure to consider the resale value of the home improvements that you are considering before spending any money. It is important to remember that not all improvements will add value to the home and some may even decrease resale values. Talk to a real estate professional to find out which renovations will give you the best return.
It is also a good idea to avoid going into debt for home improvements. This is especially true for larger projects such as a new kitchen, swimming pool or addition. The interest on these projects can quickly add up and could cost you more than if you had simply paid cash for the work.
