Home improvement, or renovation, refers to a wide variety of projects that can include upgrades to an existing interior and exterior space. They can be done for a variety of reasons, including personal preference and comfort, maintenance or repair work, making the home bigger by adding rooms or spaces, as a means of saving energy, or to improve safety.
The most common type of home improvement project is an extension to a current structure, such as a new addition or a second story. These projects are often expensive, but they can increase the value of a property in the long run.
Some home improvements, such as a new front door or landscaping, don’t add much to the value of a home. But other DIY projects can make a big difference without breaking the bank.
Besides improving a home’s curb appeal, some home improvements can actually help you sell your house. For example, a well-kept lawn and bushes can attract buyers.
If you’re not interested in putting in the time and effort to do the work yourself, there are plenty of contractors out there who can do the job for you. Just be sure to do your research and ask around for references before hiring someone.
The average American spent more than a half-trillion dollars on home improvements from 2019 to 2021. Despite inflation and a possible recession, homeowners say they plan to continue taking on projects.