Home improvement is a great way to upgrade your living space while increasing its value if you decide to sell it in the future. However, not all projects are created equal in terms of cost and return on investment, so it is important to weigh the pros and cons carefully before embarking on a renovation. In addition, there are a number of different ways to pay for your home improvement project, from using savings to obtaining a loan.

The new year brings fresh resolutions, routines and, for many homeowners, to-do lists of varied home tasks. From sprucing up the front yard to painting rooms, home improvement remains a popular pursuit that keeps homeowner’s busy.

One of the most popular ways to increase a house’s value is to add another bathroom or bedroom. Adding this living space can help ease congestion and improve the overall comfort of a household.

In addition to bathrooms and bedrooms, adding a deck or patio to the backyard is another popular project that can be done at a relatively low cost. This outdoor living space can become a favorite gathering place for friends and family, and can also enhance a home’s curb appeal.

When it comes to home improvements, the best investment is often in maintenance and repair. This will keep your home looking good and working well, while saving you money in the long run on energy costs and repair bills. For major remodeling projects, it is best to work with a licensed contractor and obtain written contracts for all work performed. These should include an approximate start and finish date, payment schedules and specifics about materials to be used.