Home improvement is a way to upgrade your living space and increase the value of your home. This type of project can be expensive and complicated, but it doesn’t have to be. There are many do-it-yourself projects that you can undertake, such as painting and re-grouting tile. By adding a few of these projects, you can add significant value to your home without going into debt or ransacking your savings.

A common misconception is that a new kitchen, bathroom or roof will add the most value to your home. However, these high-cost renovations don’t always provide a return on investment. Generally, homeowners receive only a 60% return on their home improvement investments.

There are some projects that will increase the value of your home, but it is important to talk with a real estate professional before making any major investments. It’s also essential to make sure that your renovations are done correctly and will not damage the structure of your home.

When choosing a contractor for a home improvement project, be sure to research the company. Checking licenses and insurance is the best way to avoid scams and unreliable companies. You can also verify that the company has membership in a reputable association or is accredited by a professional organization.

The average homeowner spent $522 billion on home improvements from 2017 to 2019, taking on an estimated 115 million projects, according to the American Housing Survey (AHS). Married couples with children were most likely to pursue these projects and spent the most per year. They accounted for 45 percent of total market spending. The survey gathered information from respondents that self-reported the projects they had undertaken since mid-2017.

Some improvements will have a negative impact on your home’s resale value, so you should think carefully about any changes that you plan to make. Some of the most popular projects include a sparkling bathroom remodel, a new deck or patio, and the addition of an extra bedroom or bathroom. Unless you’re planning to sell your home soon, these types of renovations may not be worth the money.

A new bathroom, kitchen or bedroom will not only improve your home’s aesthetic appeal but also raise its resale value. Depending on the project and your budget, you can choose from a variety of materials, fixtures and finishes. If you’re not sure how to proceed with a particular project, consult a professional designer for ideas and guidance.

One of the most important aspects of a successful home improvement project is communication with the contractor. It is recommended to establish a payment schedule with the contractor before work begins. This should include an initial down payment and incremental payments as the work is completed. It is also crucial to communicate with the contractor regarding any problems or concerns during the project. The contract should include detailed specifications and drawings of the work being performed. For example, the exact materials to be used should be clearly stated.