Home improvement is the remodeling, altering, painting, repairing, renovating, restoring, or making additions to residential and noncommercial property. It also includes the construction, installation, or replacement of driveways, sidewalks, garage doors, windows, walls, roofs, floors, cabinetry, and appliances.
Whether you want to make your house more enjoyable, easier to live in, or more appealing to potential buyers, home improvements are a great way to add value and comfort. But before you jump in headfirst, be sure to understand how much you can realistically afford to spend and what projects will bring the biggest return on your investment.
A fresh coat of paint can make a room look new and feel clean, but it’s also one of the least expensive projects you can do to refresh a space. You can even paint just one wall to see if you like it before committing to a whole room. Other cheap but impactful projects include upgrading light switches to something more modern or refinishing your kitchen cabinets.
When selecting a contractor for a major home improvement, get quotes from multiple companies and compare their experience, reputation, insurance coverage, and business references. The contract should also contain the terms and conditions of any warranties for materials and workmanship. If the work does not turn out as expected, you may be able to invoke an arbitration clause in the contract to settle any disputes. A personal loan or credit card can be a good option for small-to medium-sized projects, but a HELOC is better suited for larger projects and may have a lower interest rate.