Home improvement isn’t just about making your living space more comfortable; it’s also a great way to add value. That’s why so many homeowners take on projects like converting their garage to a living room, adding a deck, or updating the kitchen. The key is to focus on upgrades that will appeal to most buyers and won’t cost you a fortune in the long run.
Major renovations, such as replacing your roof or redoing your bathroom, can add a lot to your home’s resale value. But so can simpler DIY fixes like painting, re-grouting tile, or power washing your driveway. To keep your project costs low, look for items you can buy in bulk or repurpose from around the house like mason jars and spice containers to store pesky supplies like nails and screws.
The number of people working on home improvement projects has dropped from the peak during the early days of the pandemic, but most are still tackling something. The reasons vary, with 36% citing they need to make repairs and 27% saying they’re preparing to sell their home.
Home improvement shows on television have helped fuel a growing interest in DIY, but it’s important to know the difference between an improvement that will add resale value and one that won’t. It’s also important to set realistic expectations and budget for your home improvements so you don’t end up in a situation where you’re stuck with an expensive unfinished project that you can’t afford to complete.