Home improvement – whether it’s a full renovation or just an updated kitchen—can increase a home’s value and be a good investment. But it’s important to be sure you know what to expect from your project before you start swinging that sledgehammer.
According to industry reports, home renovation spending peaked in 2022 and is expected to decline slightly by the end of 2024. The good news is that many homeowners are still investing in their homes, despite higher interest rates and lingering effects from the pandemic lockdown.
Whether you’re watching an episode of This Old House or Fixer Upper, the TV schedule is packed to the brim with shows about DIY home improvements. But it’s one thing to watch a show about the latest trends and another to dive headfirst into a big renovation yourself. To help you get started, we gathered expert tips, diy advice and other info about popular home improvements and what to expect from your project.
When deciding on what home renovations to undertake, it’s also crucial to keep in mind your neighborhood’s characteristics and what will add the most value. You can expect to recoup more of your costs with updates that are in line with the rest of the neighborhood, such as adding modern fixtures and appliances or updating bathrooms. Beware of too-fancy upgrades, such as a marble bathroom, which may not appeal to potential buyers. And be sure to budget for unexpected expenses, such as plumbing or structural issues.