Home improvement refers to a wide range of projects that can be carried out in and around the home. It includes everything from simple home repairs to a complete redesign or renovation of the interior and exterior.
When considering a home improvement project, it is important to keep your goals in mind. A homeowner may want to improve their living space for a number of reasons including comfort, safety and enhancing their home’s value when it comes time to sell.
A homeowner might also decide to make improvements for their own personal enjoyment. Adding new spaces, making minor repairs or improving energy efficiency are all great ways to enhance the quality of life at home.
The best home improvement projects will increase your comfort and enjoyment of your home as well as its resale value. Here are some of the most popular types of home improvement projects and ideas:
Adding an Addition
Creating additional rooms or spaces in your home can be a huge improvement for any homeowner. The addition of a bathroom, bedroom or another needed room can make a home more functional and comfortable while adding significant value to your property.
While this type of project is often expensive, it can be worth the investment in the long run. The average homeowner recoups 74 cents for every dollar they spend on home improvement projects when it comes time to sell.
Before deciding on a home improvement project, it is important that you take a close look at your budget. This will help you determine whether it is wise to finance the project and how much money you might need to borrow to cover the cost of your renovation.
If you have a large amount of equity in your home, you might be able to apply for a home equity loan. These loans are typically repaid over a period of five to 30 years via fixed monthly payments. These loans can be a good option for people with excellent credit who need funding for larger home improvements or other expensive expenses.
When Choosing the Right Contractor
The quality of work and experience of the contractor you choose to perform your home improvement project can make or break your project. Before you hire a contractor, be sure to review their licenses and credentials. You should also check to see if they have a good reputation and whether or not they have been in business for a long time.
When it Comes to Contractual Issues
You must always sign a contract when you hire a contractor to complete home improvement work. The contract should clearly state the work that will be performed, the materials and the dates for completion. It should also list any other items that need to be purchased or installed in addition to the work being done.
The law in Maryland requires that all home improvement contracts are signed and sealed by both parties before any work begins or payment is made. It is also a good idea to get quotes from several contractors before hiring one. The estimates from several contractors will give you a better idea of what the job is going to cost and how long it might take.