Home improvement is the process of upgrading a home for a more comfortable living or to increase its resale value. It may involve any number of projects from fixing a leaky faucet to redoing the entire kitchen. These improvements can be done by a professional or by the homeowner. They can also include a new swimming pool or a garage.
However, the truth is that not all home improvement projects add value to a house. In fact, most do not even come close to recouping their cost. This is why it’s important to know what projects are likely to recoup their cost and which ones to avoid.
It’s also important to keep in mind that buyers’ preferences vary by market, so it’s essential to focus on what upgrades are popular in your area. Also, remember that the costs of certain home improvements may be tax deductible.
For example, if you live in New York State and have documentation that your project meets the definition of a capital home improvement, then you can claim a sales tax exemption on all materials used in the project. This is one of the many reasons it is wise to talk to a Realtor before beginning any home improvement project. They can help you identify specific renovations that will add the most value to your home and advise you which projects are worth the investment. They can also help you find qualified professionals to do the work.