Home improvement (also known as home renovation or remodeling) is a term used to describe projects in which homeowners make changes to their homes. These changes can include anything from adding a bathroom, bedroom or kitchen to making repairs and improvements around the house.
Increasing the value of a home is a key goal of many homeowners. However, this is not an easy task as real estate markets can vary widely over the short term.
Refinishing hardwood floors and re-insulating are two examples of projects that have been shown to add the most dollar value to a home when sold. But this isn’t the only way to increase the value of a home.
The American Housing Survey estimates that in 2021, homeowner spending on home repair and improvement projects rose 44%. This is a huge jump over the past decade.
Cost is a major factor in how homeowners spend their money on home improvement. This is especially true when compared to other household expenses like mortgage payments, utility bills and groceries.
A well-planned budget is essential for a successful home renovation project. It will help you avoid running out of money or getting stuck in debt after a job is complete.
Having a partner to assist with the project is another way to ensure that a home renovation goes smoothly and does not become overwhelming. This person can pass tools to the contractor, lift heavy items and carry out necessary tasks so that you can focus on your project.