Home improvement is a term used to describe various activities in which homeowners or other individuals renovate or remodel homes. This may include adding or removing elements, such as paint, wallpaper, carpeting, lighting fixtures, windows and doors. In addition to modifying the appearance of the house, these projects often improve its efficiency.
For example, replacing an old furnace with a new energy efficient model can help save money on monthly utility bills. Moreover, installing smart thermostats can help homeowners control the temperature in their house remotely.
Television home improvement shows and the growing interest in DIY (do-it-yourself) projects have also contributed to the popularity of this activity. For instance, Bob Vila’s popular show This Old House inspired many to renovate their own houses in a Victorian style. This trend spawned a market for manufacturers to produce and sell cheap imitation molding and other architectural elements to homeowners.
Some homeowners use mortgage loans to fund home improvements, but others use personal debt. The latter option can be expensive, so it is important to weigh the costs and benefits carefully. Before making any home improvements, it is a good idea to consult a real estate agent or financial adviser to determine how much value the project will add.
Some of the most common home improvement projects include adding an extra bedroom, a bathroom and a kitchen. Homeowners should avoid attempting high-end upgrades that won’t increase the chances of recouping the investment, such as frameless glass shower enclosures and imported Italian marble countertops.