What is the term for an upgrade or improvement to a property that exceeds regular maintenance and aims to increase value?

The term that accurately describes an upgrade or improvement to a property that goes beyond regular maintenance and is designed to increase its value is "capital improvement." Capital improvements generally involve substantial changes or additions that enhance the property’s overall worth, functionality, or lifespan. Examples include adding a new room, upgrading the electrical system, or installing a new roof.

These types of improvements are significant investments that can enhance the utility or aesthetic appeal of a property, often leading to an increase in market value, making them distinct from routine maintenance or repairs. Routine maintenance focuses on keeping the property in good condition without necessarily improving its value, while capital improvements are aimed specifically at bolstering the property's financial potential.

This definition aligns with the objective of enhancing the property’s value, which distinguishes capital improvements from other options that do not encapsulate this particular aim.