HOME REPAIR VS. HOME IMPROVEMENT
Sometimes people are confused by the language used when talking about maintaining your home. People talk about home improvements and home repairs many times using the either term interchangeably. However, there is a difference between home repairs and home improvements. Boiled down to the simplest form, home repairs typically comprise work accomplished to maintain the function, performance, and aesthetic appeal of the particular topic of discussion. Home improvements on the other hand typically involve a change to the property designed to enhance the design, functionality, aesthetic look and feel etc.
Both home repairs and home improvements are important to the long-term value, enjoyment and marketability of your home. Home repairs include a list of tasks that would take several pages in a book to list and when properly performed keep your home in pristine condition and allow you to enjoy living there. Home improvements typically change something, like adding new living space by adding to the footprint, or finishing a bonus room or basement space. A complete kitchen or bath remodel would be considered a home improvement.
What types of things fall into what category and what are the benefits of each?
That is a great question and the answer many times is the impetus for vigorous discussion. There are obvious tasks like maintaining a nice yard, keeping the exterior of your home pressure washed and free of mildew, keeping the roof water tight, keeping the house properly painted, appliances and systems working properly that fall into the home maintenance category.
Obvious home improvements include finishing a basement or bonus room into living space, a complete kitchen or bathroom renovation, which may also include rearranging the flow or design layout of the kitchen or bathroom in addition to new materials.
Then there are categories of items that cause the most vigorous discussion as to what category they should fall into. These include installation of an entire new roof, a new heating and air-conditioning system (HVAC), new paint on either the interior or exterior of the house, installing a new water heater, new carpeting or other flooring, etc. Generally speaking, these types of repairs are designed to enhance the continued aesthetic beauty, functionality and usability of your home. To a real estate appraiser these types of repairs typically don’t add to the value of your home. Why? To an appraiser, a house is supposed to have present and functioning roof, HVAC system, water heater, and flooring. However, no topic is that simple to encapsulate into a definitive statement. Depending on the condition of the comparable properties used for an appraisal, the appraiser may allocate additional value to these types of repairs. A new roof with high-quality materials, exotic flooring material, highly efficient HVAC system, etc. may induce the appraiser to add value to the home on the appraisal form.
Regardless of an appraiser’s basic instincts, these repairs have an absolutely positive effect on the enhanced enjoyment you will experience while living there and the marketability of your home when you decide to sell. Buyer’s appreciate and value a house with new flooring, paint, roof, HVAC system, etc., which makes your home more marketable and more valuable in the eyes of the potential buyer. Houses maintained well, sell faster and for more money when properly marketed for sale.
Let one of our Preferred Home Services Providers assist you in achieving your Home Improvement or Repair needs. We’ve Got You Covered!
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