Which term refers to significant upgrades or improvements to a property intended to increase its value?

The term that refers to significant upgrades or improvements to a property intended to increase its value is capital improvement. Capital improvements involve enhancements that extend the useful life of the property, improve its utility, or increase its overall market value. These can include additions to the structure, significant renovations, or upgrading systems like HVAC, plumbing, or electrical systems.

Regular maintenance, property renovation, and minor repairs do not necessarily increase the property's value in the significant way that capital improvements do. Regular maintenance consists of routine tasks that keep the property in good condition, while minor repairs address small issues that arise over time. Property renovation can sometimes overlap with capital improvements but may not always imply an intent to significantly boost property value, as it might simply involve cosmetic updates.