Home improvement encompasses a wide range of projects and repairs that can improve your home’s comfort, appearance or functionality. These upgrades can add value when you’re ready to sell and can also increase your enjoyment of your home while you’re living there.
While whole-house renovations can be expensive, there are many ways to spruce up your house without spending a fortune. Paint, re-grouting tile and power washing are just some of the low cost projects that can make a big difference in your home’s curb appeal.
Despite a tough economic climate, homeownership remains a popular investment, according to the National Association of Realtors (NAR). During a recent survey, homeowners who completed home improvements reported high levels of satisfaction with their homes. Almost half of the respondents cited increased enjoyment and livability, while others credited the projects with raising their home’s value.
The types of home improvement projects surging the most involve work outside the home, such as building a deck or installing a fence. According to the American Housing Survey, cash from savings covers most of the cost for these projects. But for higher-dollar projects, financing options like cash-out refinancing, home equity loans and contractor arranged financing are common.
A variety of media sources have helped fuel a growing interest in DIY (do-it-yourself) home improvement and repairs. Television programs such as Bob Vila’s This Old House and Trading Spaces have popularized the idea of tackling a project yourself. This trend has even extended to traditionally male areas of home improvement, such as carpentry.