Home improvement is a broad term that covers any renovation or remodeling project that aims to make a residence more attractive, comfortable and functional. This can be achieved through various improvements, including paint and wallpaper, landscaping and installing appliances, plumbing fixtures and lighting. It may also include installing a garage door or replacing siding, and is generally considered a safe investment for most homeowners.
Experts predict that in 2023, home improvements will be focused on repairs and resale-worthy projects. This includes upgrades that increase a property’s energy efficiency, such as installing a smart thermostat. These projects are expected to be popular because they offer a cost-effective way to improve both a home’s comfort and its value.
Other projects that are likely to be popular in 2023 include updating kitchens and bathrooms. This is because buyers tend to favor these types of renovations, as they often have the biggest return on investment. However, home buyer preferences can vary by market, so it’s important for homeowners to focus on improvements that are in demand where they live.
If you’re considering a home improvement project this year, start by creating a list of your non-negotiables and budgeting for the costs. Then, use a model or design tool to plan your project. This will help you avoid costly surprises down the road. Lastly, it’s always a good idea to talk to a real estate agent about what improvements are likely to boost your resale value.