Home improvement is the process of repairing, remodeling or adding to your existing home. These projects may be done for a variety of reasons; to make your house more comfortable or more convenient, to increase its energy efficiency, to improve safety, to make it bigger or to increase its resale value.
In 2021, homeowners spent $624 billion on home repair and improvement projects, a double the amount that they spent a decade earlier, according to the latest American Housing Survey from the U.S. Census Bureau.
The number of home improvement projects has risen sharply over the past few years, fueled by low interest rates and rock-bottom supply chains. Aging homeowners, meanwhile, are increasingly financially equipped to pay for renovations.
A new front door is one of the best ways to instantly update your home’s appearance. Other simple home improvements that add value include removing rotten wood, installing new windows, and sprucing up your siding.
If you’re thinking of selling your house, don’t go overboard with a major remodel. You want to focus on quality upgrades that appeal to a wide audience.
You’ll also want to be sure that your renovations are being completed with the appropriate permits and by a licensed contractor. In addition, be sure that any warranties for materials or workmanship are included in the contract. Lastly, be sure that you have a clear payment schedule. If you’re not sure what the payment schedule is for a particular project, ask the contractor or the home improvement contractor to provide a copy of the contract before you sign it.