Home Improvement – What You Need to Know
The term home improvement refers to the renovation and addition of a house. Home improvements are often done to enhance the livability and utility of the home. These renovations increase the value of the home. The return on investment is between 80% and 90% after a year. It may be worth waiting a few more years to sell a home before making major improvements.
Some examples of home improvements are buying new furniture for the living room. These furniture upgrades improve the look and feel of the room. However, if you are not replacing the existing furniture, you might want to consider replacing it with new ones. But remember to only consider the cost of new furniture when it is necessary to update the look of a room.
The average amount spent on home improvements is up almost 50% since the last recession. This is primarily due to a rise in the number of older homeowners who are spending more on home improvements than younger people. According to the Harvard Joint Center for Housing Studies, the rise in spending is largely due to the housing shortage and the aging housing stock.
Before hiring a contractor, make sure you have a detailed list of the work you need done. This will help you negotiate a good price and weed out the unscrupulous contractors. It is also important to make sure that your contractor has the proper licenses and insurance. You can check this by visiting your local building codes office to see if a contractor is licensed in your area. The next step is to compare quotes from multiple contractors. Make sure you compare their prices and timelines.