Home Improvement – How to Save on Home Improvement

Home improvement is the renovation, repair, and upkeep of a residential or non-commercial property. The industry also includes the sale of building materials and furnishings, and the installation of kitchens, bathrooms, flooring, lighting, appliances, air conditioning, and plumbing. It also encompasses the construction, erection, replacement, and improvement of driveways, sidewalks, swimming pools (including spas and hot tubs), terraces, patios, awnings, garages, fallout shelters, basements, and other improvements to structures on land adjacent to dwelling houses.

Many homeowners have taken advantage of the COVID-19 pandemic to renovate their homes, and the result has been solid growth in the home improvement sector. In 2022, the National Association of Realtors reported that homeowner renovation projects were at their highest levels in three years. The main reasons for the surge in home improvement include refreshing worn-out surfaces, improving livability, and adding upgrades.

The key to making wise choices that can help you save on home improvement is to have realistic expectations. The return on investment from any remodeling or renovation project can range from over 100 percent to a mere 20 percent, depending on the scope of the work and its impact on the value of the property. When in doubt, talk to your real estate agent before undertaking any major changes. He or she can help you choose options that will increase the overall value of your home. However, the resale value of any project depends on the market conditions at the time of the sale and the cost of comparable homes in your area.