There are few certainties in life, but if you own a home, there’s a good chance that at one time or another, it will need some sort of major renovation. The good news is that with a little planning, you can make your home improvements without emptying the bank account or taking on debt.
Some home improvement projects are simply can’t-wait tasks like a leaky roof or cracked sidewalk, but for most homeowners the main motivation for renovating their homes is to increase their property values. However, not every renovation will add a corresponding increase in value, and in fact some renovations aren’t even worth the expense.
If you are considering a major home improvement project, talk to a real estate professional about the best way to maximize your return. A pro can help you determine which improvements will have the biggest impact on your home’s market value and also provide you with an estimate of how much the project will cost and how long it will take to recoup the investment.
The home improvement trends that are surging right now, according to Anderson, involve work done on the outside of the house: Deck construction is up 275%, and fence construction is up 144%. These are likely due to the fact that people are spending more time at home during the pandemic.