Home improvement is the process of renovating or making additions to a house. It can include things like painting, landscaping, installing doors or windows and more. People renovate their homes for a variety of reasons, including increasing the home’s resale value, improving comfort and adding living space.
Some home improvements aren’t worth the effort. For instance, a high-end bathroom renovation might not make sense if you’re planning to sell soon. But, if you plan to live in your home for a long time, it can be a smart investment.
It’s a good idea to hire professionals for some projects, such as major plumbing and electrical repairs. But, DIYers can save money by doing smaller repairs and simple upgrades.
A good place to start is with the basics, such as refreshing shower areas and replacing vanities. A new coat of paint can make a big difference, and new light fixtures and furniture are also affordable updates that will enhance the look of any room.
Homeowners spent $522 billion on home improvement projects last year, according to the U.S. Census Bureau’s American Housing Survey. The survey found that the average homeowner spends about $1,350 on home improvement projects. That’s an increase of $72 billion from the previous two years. The survey found that most homeowners have money set aside for these projects and are able to complete most of the work without having to tap into savings or take on debt.