Home improvement (also known as home renovation or remodeling) is the process of improving the interior and exterior of a house. It is a common hobby, and people renovate their homes for a variety of reasons. These reasons include increasing the value of their property, making it more livable, or simply updating it. Home improvements can be done by a professional contractor or by the homeowner themselves. Regardless of the reason, it is important to have a plan before starting any home improvement project.
The home improvement industry is booming, and for good reason. According to the Census Bureau, homeowners spent $522 billion on home improvement projects in 2019, which is a $72 billion increase over the previous two-year period. While some homeowners take on these projects on a regular basis, others do them when they need to, like fixing a leaky roof or a flooded basement. No matter what the reason, most homeowners have a list of things they want to get done around the house.
One of the most popular home improvement projects is a kitchen remodel. This can include everything from a new sink and faucet to a complete overhaul of the entire room. Many kitchen remodels also include new countertops, flooring and appliances. While these upgrades can be expensive, they can add a significant amount of value to the home.
Bathroom remodels are another popular way to add value to a home. This includes refreshing shower areas, installing new vanities and toilets, laying new tile or flooring, and adding fixtures and lighting. Homeowners typically receive a high return on their investment when they do this.
Other popular home improvements include adding new bedrooms and bathrooms, converting a garage into a living space, or even just painting the outside of a house. These types of upgrades can increase a home’s square footage and help it appeal to a wide range of buyers. However, it is important to remember that not all home improvements will add value to the home.
When choosing a home improvement contractor, make sure they are licensed and insured. It is also important to obtain references and check them before hiring a contractor. In addition, it is a good idea to establish a payment schedule and withhold final payments until all work is completed and all required inspections and certificates of occupancy have been issued. Finally, it is always a good idea to avoid going into debt for home improvements. It is often more cost effective to save up for a big project or to pay cash instead of taking out a loan with interest.