Home improvement is a broad term that can encompass the entire renovation and remodeling process of a house. This includes making interior and exterior changes to a home as well as improvements to the yard or garden. It can also include adding additional living space, such as a deck or porch.
Many people undertake home improvement projects for a variety of reasons, including personal preference, comfort, or for the purpose of increasing the value of the property. Regardless of why you’re doing the work, however, it’s important to have a budget in place before starting any project.
You should also consider the value of your home and whether or not it will be worth what you’re spending on it. While some things like an in-house theater or a swimming pool may increase your home’s value, others could decrease it.
The best way to decide what your priorities are and what projects will add the most value is to sit down with your real estate agent and discuss what will make the biggest impact. They’ll help you choose the most effective renovations and avoid costly mistakes.
Popular Home Improvement Projects
According to a Houzz survey, the top projects homeowners want to tackle in 2023 are:
Almost half of all homeowners plan on renovating their bathrooms, followed by refinishing kitchens. Other common improvement goals are updating furniture, installing window treatments, and sprucing up the inside of their homes with fresh paint.
A smart thermostat is another popular update, as it can reduce energy costs by controlling the temperature at a given time of day. Installing one in your home can cost as little as $200 to $500, but it may take a professional HVAC contractor to complete the job.
Fixing loose wires, faulty outlets and water leaks is a small investment that can make a big difference when it comes time to sell your house. In fact, the National Association of Realtors says that a recent survey found that fixing these items was cited as the most important aspect of a house renovation by more than half of the nation’s consumers.
Outdoor Living – The outdoor space is becoming an increasingly important part of the American home. In 2023, consumers will continue to invest in updating their patios, backyards and decks to create more functional spaces for cooking, relaxing and entertaining.
Other popular outdoor renovations include fire pits, hot tubs and outdoor kitchens. These types of updates not only improve a home’s aesthetic but also provide an attractive selling point for potential buyers.
Renovating the roof is another common home improvement project, especially if you live in an area that gets a lot of rain. It is an easy and inexpensive task that can add curb appeal to your property.
Increasing the home’s energy efficiency will be another popular renovation project in 2023, as consumers look to cut down on their utility bills. This can be done by replacing older, inefficient windows and appliances or adding insulation.
