At some point, deciding whether or not to make certain home improvements always comes down to two questions:
- Can we afford it?
- What benefit will these home improvements provide?
If you can afford to make the home improvements, the second question can be answered with the following thoughts. Many home remodeling projects will increase the property’s market value, depending on the nature of the project. However, no matter how much you are spending on your home improvements, you may not necessarily recoup the full financial cost of the project when you sell the home. Nonetheless, the resale value does go up.
Certain home improvements may only provide aesthetic changes that transform the appearance of the home without making any noticeable improvement in the market value of the property. Nonetheless, aesthetic improvements often increase the comfort of the home for those individuals living there.
Certain improvements such as installing an updated HVAC system, new windows, or insulation can increase the energy efficiency and comfort of your home. These updates can create financial savings as your energy bills are lowered.
New siding, building a deck, or installing new windows and exterior doors can enhance the curb appeal of the home, not only for prospective buyers but also for the individuals currently living in the home. Modernizing the exterior of a home helps to keep the structure on a level footing with similar properties, while also improving its resale value.
It’s important to consider hiring a reputable contractor when making home improvements. Contractors are aware of local codes and ordinances, saving you from having to research whether or not you need a permit for certain remodeling projects. Moreover, with a highly regarded contractor on the job, the worthiness of your home’s structure is never in question.