Home Improvement: Should You Do It Yourself Or Hire a Professional?

Home Improvement: Should You Do It Yourself Or Hire a Professional?

Home improvement is a huge industry, and for good reason. Whether it’s adding a new bathroom or updating your kitchen, these projects add value and make living in your home more enjoyable. However, not all renovations are created equal. Some increase your home’s overall value while others can actually decrease its resale value.

When choosing a contractor for your home project, it’s important to take into account their reputation and expertise. It’s also recommended to check the company’s license, insurance, business references and membership in a professional organization. In addition, it’s best to work with a reputable aggregator that bundles services and acts as an intermediary between contractors and homeowners.

Among the many tasks on every homeowner’s to-do list, some are more urgent than others, such as fixing a leaky roof or cleaning up a flooded basement. Still, other projects can be planned ahead of time. Taking on home improvement projects can make your house feel more like your own and even boost its resale value. However, it’s essential to carefully weigh your options before committing to a major project.

While the coronavirus pandemic has led to a slowdown in home improvement spending, it hasn’t stopped households from taking on projects, according to data from Lowe’s and Home Depot. However, the bulk of those projects are smaller and less expensive, such as painting rooms or replacing light fixtures. In fact, 52% of homeowners say they plan to take on a small home project in the next two years, including redecorating the kitchen or bathroom and laying new flooring.

The majority of those homeowners who are planning a project say they’re not doing it to please potential home buyers. Instead, they’re primarily focused on making their house more comfortable and themselves happier with it, according to a NerdWallet survey. And while prices have risen, most homeowners say they’re sticking to their budgets for the next few months.

The truth is that very few remodeling and renovation projects recoup all their costs when you sell your home. But that doesn’t mean you should forgo all upgrades because the ones that do recoup most of their costs will offer you the highest return on investment. In this video, Courtney Klosterman, home insights expert at the home insurance company Hippo, explains which projects will boost your home’s value.