Home improvement, also known as remodeling or renovation, is any project that involves improving the physical appearance of a home. These improvements may include adding new features, changing the floor plan or adding energy-saving amenities.
The cost of a home renovation is always a factor, but there are some ways to keep your costs low while still getting a good return on your investment. If you do decide to tackle a major renovation, be sure you know exactly what you’re getting into before starting the project.
Make it Safe and Comfortable
Many homeowners are tempted to renovate their homes solely for the purpose of increasing the value, which can be a bad idea. While you want to ensure your home’s future resale potential is as high as possible, it’s important to keep in mind the fact that your family’s safety and enjoyment are much more important than how it looks.
It’s a good idea to get advice from a real estate agent before you embark on a major project. He or she can help you identify which changes will be most effective at improving the value of your property.
You’ll also want to find a contractor who is licensed and insured. This will help protect you from any issues that could arise during the home improvement process. You can also ask for references from other homeowners who have recently worked with the contractor you’re considering.
A Good Contract
In Maryland, all contracts for work done on your home must be in writing and signed by both you and the contractor before any money is paid or the project starts. The law also requires contractors to have their name, address, and MHIC license number on the contract. If a contractor doesn’t have this information, don’t hire them for the job.
If you do choose to hire a contractor, be sure to check the contractor’s licensing and insurance and ensure they have a good reputation in your area. In addition to these things, you should ask about the contractor’s experience and credentials.
A Better Home for You
Some of the most common reasons homeowners take on home renovation projects include: To fix a safety issue, improve the function of their house or increase its value. While these are all legitimate reasons to undertake a home improvement project, it’s best to do your research and consider each of them carefully before you start.
To Increase the Efficiency of Your House
Installing a new heat pump, windows or insulation can reduce energy costs and help you pay off your home renovation costs over time. Likewise, upgrading to a more energy-efficient home is an attractive selling point for your house if you’re planning to sell.
To Add Space
If your home is too small, a major renovation can be an excellent way to make it feel larger. A kitchen renovation, a bathroom remodel or an addition can all provide an immediate boost in usable living space without breaking the bank.