Home improvement, also known as home renovation or home remodeling, refers to the repair, replacement, remodelling, alteration, restoration, modernization, addition, and improvement of any existing residential or noncommercial property. This can include, but is not limited to, the construction, replacement, improvement or repair of driveways, walkways, patios and decks; walls, ceilings, floors and doors; kitchens, bathrooms and bedrooms; attics and basements; and fences, waterworks, and landscaping.
People carry out home improvements for a variety of reasons. They might want to improve their living space, make it easier to maintain, add a feature or aesthetic, save energy, or to fix safety issues. The most important thing to remember is that the changes you make should be consistent with your home’s overall style and complement its features.
Depending on your budget and skill level, you can do some or all of the work yourself, or hire a contractor to complete the project. Some common home improvements include painting, carpet installation, and making repairs to appliances or electrical systems. Others, like installing new windows, a heat pump, or additional insulation, can significantly lower your energy costs and may pay for themselves when you sell the house.
In general, it’s best to spend money on upgrades that will increase the value of your home and/or make it more enjoyable for you to live in. However, be careful not to overspend. If you’re planning to sell your home soon, it’s a good idea to consult with a real estate agent in your area about which renovations will most likely add value to your property.
If you’re considering doing some home improvements, it’s a good idea to compare prices and quality before choosing materials for your project. It’s also wise to consider the return on investment for each project before starting. A poorly executed remodeling job can actually decrease your home’s value, rather than raise it.
It’s also a good idea to keep track of your home improvement spending and update your home insurance as necessary. As your home’s value increases, your current policy may not provide adequate coverage.
Whether you’re an avid fan of home improvement shows such as Fixer Upper or This Old House, or simply enjoy working on projects around the house, the right upgrades can greatly enhance your living experience and possibly even add to your home’s resale value. However, if you’re thinking of tackling a major home improvement project, it’s important to carefully weigh your options and plan accordingly.
The home improvement industry has seen a boom in recent years as homeowners have sought to renovate their properties, even during the pandemic. But not all projects deliver the same returns on your investment, a new study has found. Sparkling bathroom overhauls and major kitchen renovations, for example, do not typically yield high returns, according to a Cost vs. Value report from Zonda. And while most homeowners have a renewed interest in renovating their homes, the cost and financing of these projects can often be prohibitive.