Home improvement, also called house renovation or remodeling, is the process of updating an existing home. It can include anything from repainting a room to adding an addition onto the house. Homeowners can choose to do the work themselves or hire a contractor. Some projects, such as installing new windows, can have a large return on investment. Other home improvements, such as replacing the flooring in a bathroom, can be done at a much lower cost and may have a smaller return on investment.
Regardless of the type of home improvement project, homeowners should be careful not to overspend. A good rule of thumb is to keep the costs in line with the current value of other homes in your neighborhood. In some cases, overly expensive upgrades can actually detract from a home’s value by making it look too high-end for the neighborhood.
Many people renovate their homes for a variety of reasons, such as improving the home’s appearance or increasing its resale value. Some of these improvements, however, are more effective than others in boosting a home’s value. For example, painting a room can have a significant effect on the overall look of the home. Other home improvement projects that may be effective include installing a new kitchen, adding storage to a bedroom or upgrading a bathroom.
Before beginning any home improvement project, homeowners should consult with a contractor to learn more about the project and what the estimated cost will be. They should also consider obtaining a contract for the work to be performed, including a timeline and payment schedule. If a contractor fails to complete the work or overcharges the customer, they may be subject to civil penalties under New York State law.