Home improvement, also known as home renovation or remodeling, is the process of improving the interior and exterior of a dwelling. The industry includes the construction and sale of building materials, furniture, appliances, decorations, and other household goods, as well as the hiring of contractors or tradespeople to perform home improvement work.
One reason why homeowners are investing in home improvements is to make their homes more livable and comfortable. For example, a homeowner may decide to renovate their kitchen to modernize it or they may want to install an additional bathroom for family and guests. Moreover, many homeowners may also consider upgrading their home’s energy efficiency by installing new appliances and insulation.
The most popular home improvement projects include adding rooms, modifying existing rooms, and making cosmetic changes to the house’s exterior and interior. However, homeowners should carefully weigh their options before undertaking any project. They should try to stick to a budget and avoid putting themselves in debt. Furthermore, they should consult with a professional before deciding on any specific project.
Although some homeowners are reducing their home improvement projects due to the pandemic, experts believe that there will still be pent-up demand for these projects when the economy improves. According to Emmanuel Forge, a traveling contractor who shares home-renovation advice on TikTok and Instagram, many homeowners underestimate how much projects cost. As a result, they may abandon their pricier plans. He suggests that homeowners should focus on small projects and opt for low-cost updates to their homes. For instance, they can replace their smoke detectors with smart ones that flash lights or emit louder sounds to alert them of problems early on.