Home improvement is a general term for renovations, repairs and upgrades done to improve the comfort, safety and beauty of your home. These projects may involve anything from remodeling your kitchen or adding a deck to painting and replacing light fixtures. Home improvement can be very expensive, but many homeowners take on these projects to save money over the long run by reducing utility costs and improving resale value.
Whether you have an emergency repair to do or just want to give your house some TLC, it’s likely that at some point you will take on a home improvement project. However, many people don’t know how to choose the right contractor for their projects or are unsure of how much the project will cost. In addition, many homeowners are also concerned about the resale value of their homes and how to maximize that return on investment.
According to the latest American Housing Survey, homeowners worked on 115 million home improvement projects in the past two years. While the COVID-19 pandemic was definitely a factor in boosting home improvement activity, it wasn’t the only driver. There were a variety of other factors including the waning labor shortage and a spike in prices for home improvement materials like lumber.
As a result, homeowners were more cautious about hiring contractors and took steps to ensure that the work they received was high-quality. This included asking for references and ensuring that the contractor had proper insurance. In addition, more consumers turned to online aggregators for help in finding qualified contractors and managing the entire process.
These aggregators are a great way to get a good deal on the services you need and to avoid paying unnecessary fees. However, be aware that if something goes wrong with your home improvement project or your contractor, you could end up being held liable for the damages, which can easily add up.
Another thing to keep in mind is that the type of upgrade you make can impact resale value. It’s best to stick with mid-range upgrades that will appeal to the largest number of potential buyers. For example, installing marble flooring in a master bathroom might look great to you, but most buyers are looking for more affordable flooring options.
The bottom line is that while there are a lot of reasons to work on your home, it’s important to remember that you’re doing this for yourself and your family first. While it’s okay to take on some projects that will make your home more enjoyable for you, be sure to prioritize the improvements that will make a big difference when you’re ready to sell.
The popular show Home Improvement aired from 1991 to 1999 and featured the eponymous character played by Tim Allen. The show is known for its humor and realistic depictions of home ownership issues. It also helped to blur the lines between the traditionally masculine sphere of carpentry and the largely feminine sphere of interior design.