Home improvement is the process by which homeowners make modifications and upgrades to their residences. The industry encompasses the sale of building materials, appliances and decor as well as the hiring of contractors, service professionals and other workers to perform renovations, repairs and maintenance on homes. The market has experienced solid growth in recent years, especially during the COVID-19 pandemic, and is expected to continue to grow.
While some people renovate their homes to increase their property value and resale potential, others simply wish to improve their living space. Whatever the motivation, a careful plan is essential before taking on a home improvement project. Not only do you have to consider your own personal tastes, but also what types of improvements will appeal to the widest number of buyers.
Before you start swinging hammers, sit down and write out a list of the improvements you’d like to make to your home. Then, figure out how much each will cost, including labor and materials. If you’re not comfortable estimating costs on your own, consider having a professional inspect your home and provide you with an estimate. This will save you money in the long run by catching problems that can be fixed before they become worse.
If you decide to hire a contractor, ask for references and check their license. Also, ask for a written contract that clearly states the scope of work, start and finish dates, payment terms and other important details. It is also recommended that you obtain multiple estimates before selecting a contractor to ensure you are paying a fair price for the work required. In addition, it is a good idea to only select contractors who are members of a trade association and/or have accreditation by a professional organization.
Many homeowners jump into home improvement projects without thinking about the impact on resale value. For example, installing expensive marble floors in the bathroom may impress you, but it will deter most buyers from buying your home. If you’re planning on selling in the near future, choose upgrades that will appeal to the broadest range of buyers.
Home improvement is a multibillion dollar industry that includes the construction, remodeling, repair, painting, cleaning, renovating, restoring, modifying, moving, or demolishing of residential and noncommercial property, and the installation of heating, ventilation, air conditioning, plumbing, and electrical systems. It also includes the construction of new structures, such as garages, sheds, and decks.
Home improvement is a popular pastime for both men and women, and it can be very satisfying to complete a project yourself. However, it’s important to remember that you should only undertake projects that you can safely and competently complete. Inexperienced homeowners can end up spending more than they intended or causing damage to their home. For this reason, it’s a good idea to hire a qualified professional to do any major home improvements. Even small projects, such as re-grouting tile or painting, can add real value to your home.