Home improvement is the repairing, remodeling, altering or converting of a residential building. It can include anything from the exterior to the interior of a house. It also includes the constructing of an addition to a building.
The popularity of home improvement has soared in recent years. This is mainly due to lower interest rates, rock-bottom labor costs and the desire to make a home more comfortable and functional for their families.
For many homeowners, home improvements can be a calming experience, and it can help them feel more in control of their lives. It’s also an excellent way to boost a property’s value, making it more appealing to potential buyers.
A home improvement project can be a major undertaking, so it’s important to hire someone qualified to do the work. If you’re considering a contractor, do your homework and ask to see references and verify their license and insurance before you hire them.
You may be able to finance your home improvement project by taking out a home equity loan or personal loan, which allow you to borrow against the value of your home. This option offers flexibility and lower interest rates than a credit card. However, be sure to have a budget in place before you apply for a home improvement loan.
Some of the most popular home improvements include bathroom renovations, kitchen renovations and outdoor remodeling. According to a recent survey by Axiom, one in five homeowners intends to renovate a bathroom in 2021, while one in three are planning to remodel a kitchen.
Other common projects are siding and roofing, window and door replacements, electrical systems, water heaters, HVAC, insulation, drywall, deck construction and fence installation. This type of work can be done on your own, or you can hire a professional to do it for you.
Homeowners are increasingly hiring contractors for their home improvements, especially in the wake of the COVID-19 pandemic that struck in 2020. The Axiom study found that more than half of respondents intend to hire a professional for all or part of their home projects in 2021.
It’s also important to make sure the company you choose is insured, licensed and bonded. Check references and compare prices, as well as the quality of their work, before you hire them.
If you’re going to be hiring a contractor, make sure you get all the terms of the contract in writing. This will give you peace of mind and ensure that all parties understand what’s expected of them in the project.
Another thing to remember is that you can often get more than one estimate from contractors bidding on the same project, so don’t rely on price alone to select a contractor. You should also consider the quality of their work and the experience they have in the area.
Aside from boosting the value of your home, home improvements are a great way to add curb appeal and increase your enjoyment of your home. It’s also a great way to save money on your energy bills, since you can cut down on the amount of time it takes to heat or cool your home.