Home improvement refers to the renovation, remodeling, repair, alteration or modification of residential and non-com- mercial property for the purpose of increasing its utility or value. This industry encompasses the sale of building materials, appliances and decor for home use, as well as contractors and tradespeople who provide services to assist with home improvements.
Homeowners plowed money into their houses at record pace during the pandemic, taking on an estimated 115 million projects, according to the American Housing Survey. In fact, 3 in 5 homeowners did one or more home improvement projects in the past two years, the NerdWallet survey found.
Those projects can be huge—and expensive. But you can also take on smaller DIY fixes to spruce up your place. Whether you’re thinking about a full-blown renovation or just some cosmetic tweaks, keep in mind the resale value of your property when making decisions. Some projects, like adding a home office, will bring a higher return when you sell your house, while others, such as replacing windows, may not add much resale value.
A good way to make sure your home improvement projects go according to plan is to create a budget and timeline for each. And when hiring professionals, make sure they have the proper credentials and are vetted for your safety. For example, a contractor should be licensed and insured and have a clean record with the Better Business Bureau. You can also find reputable professionals through aggregator sites, which act as middlemen between service providers and customers.