Home Improvement Projects That Add Home Value

Home improvement, whether a do-it-yourself project or a contractor job, can be a rewarding way to improve your home. But it’s important to be wise about which renovations will add value to your home, and which ones won’t.

Investing in a kitchen remodel is one of the most popular home improvement projects, and it can be a smart way to increase your property’s value. But if you’re planning to sell, it’s also essential to make sure that any improvements you’ve made don’t turn buyers off.

Doing home improvements that increase your home’s structural value, such as adding a bathroom, is one of the best ways to add value, says Tom Steckel, director of research for the National Association of Realtors. Increasing the size of your home, creating additional outdoor space that has multiple functions or increasing the functionality of your spaces, can be other ways to boost value, too.

It’s important to be careful when choosing a contractor for your home improvement project, because they vary greatly in their skill, experience and reputation. Check to see if they are licensed in your state or locality and whether their work is guaranteed.

A written contract should include a timeline for completion, payment schedules and as many details about the work as possible. In addition to the price, it should also list any permits and inspections that are required.

The NerdWallet survey found that most homeowners anticipate spending $7,746 on home repair and improvement projects over the next two years, an average that’s up from $6,251 in 2020. The survey asked homeowners to estimate how much they plan to spend on a range of remodeling and home-improvement projects, and the results show that many are using a credit card to finance their renovations.

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