Home Improvement – How to Balance Cost Recovery and Happiness When Deciding on Your Next Project
Home improvement is the remodeling, altering, renovating, repairing, restoring, modernizing or converting of the whole or part of any residential or non-commercial building. It includes installation of energy-efficient windows, smart thermostats and insulation. The renovations may also include painting, tiling, flooring, fencing, and decking.
Homeowners are remodeling their houses more frequently and with more spending than ever before, and they’re finding more satisfaction with their upgraded living spaces. But despite this upswing, homeowners should still be careful not to make costly home improvements that won’t pay off in the long run. This article explores how to balance cost recovery and happiness when deciding on your next renovation project.
The most popular projects involve working outside the house, with landscaping and fence construction surging the most. Deck construction is up 275%, while hiring a landscaper is up 158% and putting up a fence is up 148%, Anderson says. He adds that rock-bottom interest rates and the comfort of familiarity in the home have made it an appealing time to spend money on improvements.
But some projects can be too expensive to do for the sake of resale value, and many people go into the home renovation process without having a clear understanding of what their goals are. That can lead to overspending or even going into debt, and it can also mean making improvements that aren’t as valuable for the home as they were meant to be. This is why it’s important to have a plan before you start your renovation, and to find the right contractor for the job.