Home improvement is the process of renovating and repairing homes to improve their comfort, safety and function. It includes all aspects of updating a home, from changing out worn fixtures to adding new landscaping. Home improvements also can add curb appeal to a property, making it more attractive to potential buyers.
A home is often considered the single biggest investment a person will make in his or her lifetime. For this reason, homeowners take great pride in their properties and are always looking for ways to enhance them. Home improvement projects can be as simple as painting a room, or they can be as complex as building an addition. Regardless of the scale, however, it is important to understand the costs and benefits of each project before undertaking it.
According to a 2024 study by Houzz and Home, the top reasons for homeowner renovations are improving or replacing worn-out surfaces, finishes, and materials (33%); increasing livability (29%); adding features and boosting resale value (20%); and making energy-efficient upgrades (17%). The study found that while COVID-19 caused a drop in remodeling activity, it did not deter consumers from their planned projects.
To help ensure a successful home improvement, be sure to hire licensed and insured contractors. Insist on receiving a written contract that specifies all materials and labor costs, as well as a start and completion date. Check with your state’s consumer protection agency to learn more about hiring laws, and never pay in full until the work is completed and you are satisfied with it.