Home improvement, also known as home renovation or remodeling, is the process of improving the interior and/or exterior of a dwelling through a variety of projects. These improvements can be made to increase the value of a house, make it more comfortable, or adapt it to new uses. Regardless of the scope of work, home improvement is typically performed for a number of reasons: personal preference and comfort; maintenance or repair work; making a house bigger by adding rooms or extensions; improving energy efficiency; or making it safer.
When it comes to deciding which home improvement projects are worth the investment, many homeowners focus on their return on investment (ROI). While some remodeling and renovation projects offer impressive ROI values, others are less worthwhile. And, while some projects have a high ROI, it is important to remember that the return on investment you get when selling your home depends on the types of upgrades that are popular in your area and the price range of other houses in the neighborhood.
The good news is that there are plenty of low-cost and high-ROI home improvement projects that will boost your curb appeal and improve your house’s overall appearance. Installing a new front door, resealing your driveway, cleaning the windows and weeding are simple and affordable ways to improve your home’s first impression. For the yard, planting a few trees and shrubs, mulching the soil, or painting your fence are easy, cost-effective ways to enhance your home’s outdoor space.
Although major home improvement projects have cooled off since the coronavirus pandemic began, homeowners remain enthusiastic about smaller projects they can take on themselves or hire professionals to do for them. About 3 in 5 homeowners have done home improvement projects since March 1, and they spent about $6,438, on average, on those projects, according to a NerdWallet survey. In the months ahead, it’s likely that homeowners will continue to spend money on smaller improvements as well as repairs.
It’s critical to choose the right contractors for your next home improvement project. There are a number of factors to consider, including reputation, licensing, insurance, and customer satisfaction. It is also recommended that you compare multiple companies before hiring one to perform a home improvement project. When looking for a contractor, make sure you ask friends and family members for recommendations, do your research, and check references. Moreover, it is also important to ensure that your contractors are following proper safety protocols while working on your home. This will help you avoid any accidents or injuries in the future. NerdWallet’s guide to hiring home improvement contractors can help you find the right professional for your project.