Home Improvement 101
Home improvement is the practice of improving or remodeling a home. It includes a wide range of projects, from small interior painting to adding extra rooms. Home improvement is a vast and diverse industry, encompassing the sale of building materials and furnishings, installation services, DIY (do-it-yourself), and more. The industry has experienced significant growth in recent years, especially during the COVID-19 pandemic, with homeowners focusing on DIY renovations and spending more money on their homes.
People renovate for many reasons, including increasing their home’s value or making it more livable for themselves and their families. However, it’s important to plan ahead before diving into a project and to select upgrades that are both cost-effective and likely to provide a good return on investment.
Some common home improvements include updating kitchens and bathrooms, adding outdoor living spaces like patios or decks, and replacing windows and doors. These improvements are typically relatively inexpensive and can greatly increase a home’s curb appeal. Other projects, such as adding a manufactured stone veneer to the outside of a home or upgrading heating, ventilation and air conditioning systems, can also add value and improve a home’s efficiency.
Homeowners should also consider speaking to a real estate professional before making any major home improvements. It’s also a good idea to update one’s home insurance policy after any renovations, as the new value of a property may require additional coverage. It’s also a good idea for homeowners to avoid over-improving their homes, as it can detract from the appeal of other houses in the neighborhood and decrease a home’s resale value.