Home Improvement Basics

Home improvement can increase the livability of a house and boost its value in the real estate market. It also benefits the economy through job creation, increased demand for construction materials and home products, and higher tax revenues for local governments.

However, a poorly-planned or executed renovation can result in costly overruns and even detract from a home’s value. Fortunately, there are a few basic guidelines homeowners can follow to ensure their remodeling projects go smoothly and yield positive results.

According to the latest American Housing Survey, homeowners undertook an average of 135 million home improvements in 2021. The survey asks homeowners to self-report the amount spent on “home improvement or repair projects” that took place in the previous two years (2019 and 2021).

While most of these improvements are designed to make homes more comfortable, many are aimed at increasing a home’s resale value. When choosing a project, it’s important to keep in mind that any changes should be consistent with the surrounding neighborhood and appeal to a broad audience of potential buyers.

A home’s livability and appearance can also be enhanced through the addition of an outdoor space, such as a deck or patio. This can help create a more relaxing, enjoyable atmosphere for homeowners and their guests.

If you’re planning a major home improvement, be sure to get quotes from several contractors and choose a reputable one with experience in the type of work you need. It’s also a good idea to choose a contractor with insurance coverage in case a worker gets hurt or property damage occurs.