Home improvement, also known as home renovation, is the process of improving a residential building. Home improvements can be done for a number of reasons, including increasing the comfort and value of the home, to accommodate changing family needs or simply to update the look. Some home improvements are very large, while others are small projects. For example, a homeowner may choose to replace their kitchen or bathroom fixtures, paint or carpet, or install a new roof. These improvements will often have a significant impact on the overall appearance of the house.
For the most part, homeowners who do home improvement projects are motivated by a desire to improve their living space and make it more functional for their lifestyle. They may also be interested in addressing problems with the structure of their home or making it more energy efficient. In addition, some homeowners choose to renovate in order to increase the market value of their home.
The popularity of television shows such as Bob Vila’s This Old House and the growth of DIY culture have both contributed to the expansion of the home improvement industry. It has become increasingly common for consumers to attempt their own remodeling projects, especially those involving plumbing or electrical work. The emergence of the Internet has also made it easier for homeowners to research and purchase home improvement products.
Generally speaking, home improvement is a multibillion dollar industry that encompasses everything from replacing light bulbs to adding an entire new room to a house. Home improvements can be performed for a variety of reasons, including maintenance, increasing comfort, enhancing security or to increase the market value of the home.
According to the National Association of Realtors (NAR) 2022 Remodeling Impact Report, most people renovate their homes because they want to feel more comfortable in their living spaces. Other top reasons included upgrading worn-out surfaces and finishes, adding features and improving livability, and making the home more attractive and pleasing.
As far as home improvement projects that will boost your home’s resale value, the NAR report indicates that kitchen and bathroom renovations give the best return on investment. That’s because these types of upgrades are very high-demand among prospective home buyers. Similarly, installing new windows, a heat pump and extra insulation are likely to appeal to a wide range of potential buyers since they will lower utility bills.
When it comes to finding a contractor for your next home improvement project, you should always check their MHIC license and business references before hiring them. Additionally, you should only hire contractors who are able to provide you with a written contract that includes their name, address and MHIC license number preprinted on it. It’s also important to compare prices and choose the best deal for your project. Finally, remember to take into account the cost of materials and labor when deciding on a budget for your home renovation.