Home improvement is the work done to repair, upgrade and improve a home. It may include any number of projects, such as painting, refinishing or installing floors. More extensive renovations might involve adding a room or installing a new kitchen or bathroom. The term can also refer to making changes to a backyard, such as landscaping or putting in a swimming pool.
Television schedules are packed to the brim with shows that feature homeowners working on their houses. But many people who want to do home improvements don’t have the money or time for whole-house remodels, and even smaller jobs can add up quickly. That’s why it’s important to understand how much popular home improvement projects cost and how the choices you make affect resale value.
It’s also important to keep in mind that not all home improvement projects increase resale value, and some actually decrease it. So, if you’re thinking about selling your house soon, talk to a real estate pro before you start any big renovations.
Finally, don’t go into debt to do your home improvement project. Paying with credit cards or a personal loan can end up costing more than the initial investment because you’ll be paying interest for years to come. And if you’re going to get a mortgage, you’ll need to have good credit in order to qualify. It’s best to save up for the project or to borrow only what you can afford.