Home Improvement – Are Your Home Improvements Worth the Investment?

Home improvement

Home improvement, also known as home renovation or remodeling is the process of upgrading the interior and exterior of a house. Home improvements can add functionality, beauty, and value to a home. There are many ways to improve a home, from kitchen or bathroom renovations to adding an extra bedroom. But how do you know which projects are worth the investment? And which ones will actually boost your home’s resale value?

According to the NerdWallet survey, a majority of homeowners (80%) say they typically stick to their budget when doing home repairs or improvements. However, when it comes to hiring contractors for larger projects, many homeowners have trouble finding trustworthy professionals who can complete the work within their budget.

While the Covid-19 pandemic may have slowed down home improvement spending, it seems like households aren’t completely cutting back on DIY upgrades. Home Depot and Lowe’s both reported that customers are deferring large-scale remodels in favor of smaller, easier-to-do fixes.

When it comes to making home improvements, the return on investment varies greatly. Only a small percentage of home improvement projects have ROIs of over 100%. Even those with lower ROIs can still boost your home’s resale price and make the renovations you undertake well worth it.