Home improvement is a concept that encompasses a variety of different projects and tasks. This can include renovation work, such as installing new cabinets or redecorating a room; additions to the house, such as a sunroom or deck; or repairs and maintenance to the home’s exterior, such as painting or replacing an air conditioning unit. Home improvements can also be done for a number of reasons; they might improve the overall comfort of the home, save energy through better insulation or simply add curb appeal by making a house more attractive to potential buyers.
When it comes to home improvement, many people dive right in and spend months (or even thousands of dollars) on a remodel. But not all home improvement projects are created equal. And if you’re going to sink money into a home renovation, you want to make sure it will add value when the time comes to sell.
That’s why we spoke with experts to find out what home improvements actually pay off—and which ones might not.
Some of the top-rated home improvement projects include installing a new garage door, updating a kitchen or bathroom and adding a patio cover. These home improvements can bring in a 75% return on investment, according to Remodeling Magazine’s 2020 Cost vs. Value Report. Other projects that boost a home’s resale value include a new front door, upgrading heating and ventilation systems and adding a sprinkler system.
A well-groomed, manicured lawn is another big seller. Sod or seed a patchy lawn, and prune shrubs or bushes to give your home a finished look. Surround your yard with a well-placed bed of colorful perennial flowers, and you’ll give the impression that your home is inviting to guests.
If you want to spruce up your home for sale, focus on the most important rooms and spaces first. Bathrooms and kitchens tend to have the highest return on investment, so start with those. But don’t overlook other rooms, like bedrooms and living areas. These are the areas where prospective buyers will spend most of their time, so they’re a good place to start when it comes to getting your home ready to sell.
The last thing you want is to end up with a renovation project that’s over budget and behind schedule, which can be costly and stressful. So be sure to hire a qualified contractor with plenty of experience doing the type of work you need. And don’t forget to check references before hiring someone.
It’s also wise to consider whether or not you need a license for the specific work you need done. The state of Maryland requires that all contractors for home improvement projects have a valid Home Improvement License. You can check a company’s licensing status on our online database. Also, be sure to avoid companies that don’t have their MHIC license number preprinted on their contract. This helps protect you and the business from unlicensed operators. The Consumer Financial Protection Bureau also has tips to help you choose a reputable contractor.