Home improvement is the renovation of a home, either on a small scale such as adding new fixtures or redecorating, or on a large scale such as rebuilding or adding extensions. It is generally carried out for a variety of reasons; including increasing personal comfort, changing styles, making a more energy-efficient home, improving security or to enhance the value of the property. Home improvements can be expensive but there are ways to keep costs down, such as using a home equity loan or a personal loan for the project.
The home improvement industry has recorded excellent growth results in recent years, particularly during the COVID-19 pandemic. It includes the sale of building materials, appliances and decor for home improvement as well as construction services for DIY and professional contractors.
According to Anderson, the categories of home improvements surging the most include outdoor projects, such as installing a deck or putting up a fence. Others include painting, interior work such as replacing vanities and toilets or laying new tile in showers, and adding landscaping.
However, he cautions that not all home improvements add value to a house. He suggests choosing projects that are in line with the neighborhood, and that prioritize needs over wants. For example, adding a pool to the backyard may not be a good idea if most other homes in the neighborhood don’t have one. And when it comes to hiring contractors, Anderson recommends checking their credentials. Look for online reviews and always get a written contract before the work begins.
