Home improvement is the process of renovating your home in order to increase its value and livability. It can include anything from small cosmetic improvements to major structural remodels. A good home improvement project will not only add beauty and comfort, but also save energy and money. The home improvement industry has experienced robust growth in recent years, particularly during the COVID-19 pandemic when homeowners invested to make their homes more comfortable and suited for remote work and learning. The industry comprises a wide range of companies that sell building materials and appliances, offer design services, and provide contractors and labor for home improvement projects.
Generally, home improvement projects that add functionality and square footage, as opposed to those that are purely aesthetic or go outside of the norm for the neighborhood, offer the best return on investment. One exception is curb appeal, which is always a top priority for prospective buyers and typically results in an ROI of about 80%.
While many homeowners may be tempted to undertake DIY projects as a way to save money, it’s important to find a contractor that offers quality work for a fair price. In addition, it’s vital to have a well-defined budget and timeline before beginning any work. It’s also essential to consider the resale value of your home and make sure any improvements you choose to undertake will appeal to future buyers. Lastly, don’t forget to keep up with regular maintenance to prevent minor issues from becoming bigger problems down the road.