Home improvement is the repairing, remodeling, renovating, restoring, altering, or modernizing of any part of a residential building. This includes adding on, building out or extending a structure, but does not include the construction of new buildings or structures such as gazebos or decks.
Whether you’re hoping to boost your home’s resale value or simply make it a nicer place to live, a little bit of time and money invested in some smart renovations can go a long way. But it’s important to consider the return on your investment before you start any major work.
The amount of money you spend on your home’s improvements can vary significantly, depending on the types of projects you do and how much you pay. Often, the best projects are ones that you can do yourself rather than hiring contractors. Even things like re-grouting your shower, painting or power washing can add value to your house and are relatively inexpensive.
While some homeowners are still rushing to remodel before the end of the pandemic, experts predict that spending will drop off in 2023 as Americans become more comfortable with staying put and focusing on making their homes safer and more livable. However, if you do decide to take on a project, it’s crucial to choose wisely and make sure the contractor is licensed and insured. It’s also a good idea to get any promises for the completion of a job in writing. In many counties and municipalities, it is a criminal offense and/or a civil penalty to engage in home improvement without a license.