A home improvement project is a great way to give your house a facelift and add comfort, but it’s important to know which projects are worth the investment. Updated kitchens and bathrooms are usually a safe bet, as well as any renovation that increases square footage, such as a finished basement or a deck. However, buyer preferences vary widely from market to market, so it is wise to consult a realtor in your area about what renovations will have the highest return.
When selecting a contractor for a home improvement, it is important to find one that specializes in the type of work you need. Often, local, family-owned firms are the most reliable, and they also stand by their warranties and guarantees. In addition, they are accustomed to working with homeowners, so they are more likely to be flexible in terms of scheduling and budgeting.
Another factor to consider when choosing a contractor is the amount of time they have been in business. Larger, national companies may be more experienced, but they are also more likely to charge higher prices.
It is important to get a written contract for any home improvement project. This will help protect you from shoddy workmanship or overcharging. It should include a description of the work to be done, as well as any specific materials to be used. It should also state the dates when the performance of the home improvement will begin and be substantially completed. The contract should also specify the amount of any deposit and payments. Lastly, it should provide a complete list of any applicable warranties.
Homeowners are spending more on home improvements than ever before. This trend is being driven in part by high housing prices, which are making it more expensive to move to a new home, and by record-low interest rates, which are making it cheaper to finance a renovation than it would be to buy a new home.
A recent survey from Real Estate Witch found that 95% of homeowners plan on taking on at least one major home improvement project in the next five years, although many are unsure which projects to undertake and what they will cost. To help with the planning process, it is a good idea to use a model and design tool, such as Floorplanner, to create a couple of different versions of your home and then compare them to see which is most appealing. Then, be sure to leave yourself a 10-15% buffer in the budget for unexpected costs.
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