Home Improvement Ideas – Make Smart Choices That Can Save You Money

Home improvement is a popular topic for TV shows, and many people are inspired to do some remodeling work after watching Fixer Upper or This Old House. However, it’s important to remember that just because something looks good on a screen doesn’t mean it’s the right fit for your own home. There are many important factors to consider, and it’s easy to overspend or take on too much debt. Read on to learn more about the most common home improvements, how they can affect your wallet and smart choices that can help you save.

Home improvements are a big part of homeownership, and they can improve your quality of life and increase the value of your home. However, some upgrades are more worthwhile than others. The return on investment (ROI) for home improvements can range from over 100 percent to a meager 20 percent or less, depending on the type of project you undertake. The best ROIs are usually for projects that add living space, such as adding an extra bedroom or bathroom.

But the most important reason to do home improvements is to make your house a place that’s comfortable for you and your family. If you remodel solely based on how it will impress potential buyers down the road, you may end up with a showplace that feels like a museum rather than a home. If you plan to sell your home within a few years, it’s also important to speak with a real estate professional before starting any high-end renovations.

A recent survey by NerdWallet found that most homeowners (95%) are considering some kind of home improvement project in the next two years, but only about a fifth of them say they’re planning to do projects that will make their homes more appealing to potential buyers. Most of the remaining respondents are thinking about making their homes more comfortable or simply feeling more satisfied with them, while a few are considering fixing safety issues.

One thing to keep in mind when planning a renovation is the effect it will have on your neighborhood. If you go all out on a new hot tub and fountain for your backyard, it will stand out from the neighbors’ yards, which are probably more modest. This isn’t necessarily a bad thing, but you should know that it could affect the overall value of your home.

Home improvement spending is cooling down, the nation’s two largest home improvement retailers recently reported. Lowe’s said it’s seeing shoppers delay projects and opt for cheaper do-it-yourself fixes, and Home Depot reported a similar drop in sales this week. The downturn comes after a pandemic-era flurry to upgrade both newly purchased homes and those where families were forced to spend more time together during Covid lockdowns. This is a significant change in behavior, and it will likely impact the pace of future renovations.