Home improvement is the modification of a dwelling or its grounds. It includes any work, repair, or installation of fixtures, furniture, appliances, heating and air conditioning equipment, gutters, chimneys, foundations, porches, patios, swimming pools, unattached structures, fences, and landscaping. It also refers to the renovation of existing homes and the addition of new buildings, such as garages or sheds.
It’s important to keep the end goal in mind if you are planning any home improvement projects, especially if you are considering selling your home in the near future. If you improve your house well above what’s typical for the neighborhood, it could scare away potential buyers or negatively impact how much your home sells for.
The good news is that although housing market spending has cooled since the pandemic, home improvements still matter to consumers. In fact, according to the latest NerdWallet survey, almost all homeowners are at least thinking about upgrading their homes over the next two years. Of those, most are focused on painting rooms and updating light fixtures. A few are more ambitious, aiming to renovate their kitchens and adding rooms.
No matter what type of project you are thinking about, the first step is to set a budget and stick to it. It’s a good idea to hire a contractor to help ensure your project stays on schedule and within budget, but make sure you get a contract with a payment schedule and specifics about materials and costs.