Home improvement, also known as house renovation or remodeling is the process of upgrading the interior and exterior of a home. This includes everything from painting and resurfacing pavement and driveways to installing garages, fences, sheds, pools and decks. Most of these improvements are done to add value to a home, but sometimes they can be done for aesthetic reasons as well.
The most popular home improvement projects are kitchen remodels, bathroom renovations and roof replacements. Other improvements that are popular include new windows, landscaping and paving stones. However, it is important to remember that not all home improvement projects are created equal. In fact, some can actually detract from a home’s value. Before you jump into a DIY renovation, talk to a real estate agent about the type of updates that will increase your home’s resale value.
In addition to making sure you choose the right home improvement, be aware of what type of tax breaks you may get for your project. For example, if you are a Bergen County resident and have a registered contractor who is licensed with the state, you might qualify for up to a 50% rebate of eligible costs on some home improvement projects. However, it’s important to note that not all states offer this rebate. Also, make sure to talk to your accountant about the best way to finance a home improvement project so that you don’t end up going into debt.