Home improvement is the process of making changes to improve the functions and appearance of a home. Some projects are simple and easy, while others require significant time and money. Most home improvement projects enhance the overall aesthetics of a home and increase its value. However, some projects have little or no return on investment.
A common home improvement project is adding an additional room to the house. This can be accomplished in a number of ways, including building an addition onto the front or back of the house, or converting a basement or attic into living space. Other popular home improvement projects include replacing or updating kitchen appliances (refrigerators, washer-dryers and dishwashers), installing new flooring and renovating bathrooms. Replacing old windows with energy-efficient ones is another way to increase a home’s efficiency and reduce utility bills.
One of the most important considerations when undertaking a home improvement project is staying within budget. It’s also important to choose improvements that will blend in with the existing style of the house and neighborhood. If your neighbors all have in-ground swimming pools, for instance, adding an above-ground pool might make your home look out of place.
Another key consideration is knowing which home improvement projects are tax deductible. Courtney Klosterman, home insights expert at Hippo, explains the specifics of how homeowners can take advantage of this benefit. She recommends keeping all receipts and obtaining as much information as possible from contractors before starting any work. She also suggests that homeowners who are considering a major home renovation should update their home insurance policy as soon as the renovation is finished to ensure they have adequate coverage.