Home improvement is any project that adds value to your property, prolongs its usefulness or improves the overall quality of the property. Examples include adding a bathroom, kitchen or garage, installing windows, doors and carpeting, painting the interior or exterior of the house, landscaping, building a deck or porch, adding an attic, gazebo, pool, etc. Generally, material costs are tax-exempt for home improvements but each state has its own rules and regulations regarding what is considered a capital improvement.
Some projects are so important that they can’t be postponed — like fixing a leaky roof or a mold problem. Others, such as installing a new furnace or air conditioning system, are designed to increase energy efficiency, saving you money on your utility bills over time.
A well-maintained home is an asset that can help reduce your risk of disaster and injury. It’s also a great way to save on your insurance premium.
But some renovations don’t add much to your home’s resale value, even after you pay for them. That’s because they may be too personal or go beyond the taste of many buyers. Here are a few of the most common home improvement mistakes to avoid.