Home improvement is a series of tasks undertaken by a homeowner to make changes and repairs to their home. It involves any type of work that improves the function, safety, and beauty of a living space or property. Home improvements can also help increase the value of a house and make it more marketable. Home improvements can also be an effective way to improve a home’s energy efficiency.
Homeowners are likely to continue sprucing up their houses, but at a much slower pace than the pandemic-fueled surge in remodeling and renovation projects. In fact, the top home improvement retailers say sales are cooling a bit already.
The best home improvement projects can pay a high yield in terms of comfort and functionality, but they also boost neighborhood standards and improve the overall economy through the increased demand for building materials and related services. They can also reduce the need for costly repair bills, which is a major benefit.
Many homeowners have tapped into their savings to fund home improvement projects and even borrowed against their homes’ equity in some cases. In a typical case, however, the majority of a project’s cost is paid by contractors. The best way to control costs is to hire a contractor that offers a fixed price for the entire job.
Homeowners should carefully consider the potential return on investment before embarking on a renovation or upgrade. While most projects add some value to a home, it is important to avoid any improvements that may negatively impact the saleability of a property or significantly increase its maintenance cost.