Home improvement is a broad term that encompasses the remodeling, repair, modernization, restoration, conversion, or improvement of residential and noncommercial property. It includes the installation, modification or replacement of any structure, fixture or equipment, such as a kitchen, bathroom, flooring, siding, windows and doors, fences and rockwalls, and even swimming pools and outdoor structures. It also includes the construction, replacement, or improvement of driveways, walkways, patios, garages, basements, and decks.
Some home renovations are necessary to keep your family safe and comfortable, such as fixing a broken roof or upgrading outdated electrical systems. Others are done to increase livability and resale value, such as adding an extra bedroom or bathroom.
When deciding on a home improvement, it is important to consider the cost and return on investment. Some projects have great ROI, while others may not be worth the money or effort.
According to the National Association of Realtors (NAR), homeowners have developed a renewed interest in home improvements and feel more satisfied with their homes after finishing a project. This article will explore the latest trends in home renovation, including a look at some of the most popular projects and industry predictions for 2023.