Home improvment is the remodeling, renovation or updating of residential property such as homes, apartments, condos and other non-commercial buildings. This may include but is not limited to the construction, erection, replacement, repair or improvement of driveways, sidewalks, swimming pools, including hot tubs, terraces, patios, landscaping, fences, porches, garages, fallout shelters and basements. It may also include the installation of heating, air conditioning and water systems.
A home improvment project can be as simple as painting a room or adding in some storage space. Increasing your storage capacity can make it easier to find things you need and keep items organized. Other projects can be as complicated as a kitchen remodel or an outdoor addition. Some projects, such as a new roof or bathroom remodel, can have a high ROI. Others, such as a deck or garden, may have a lower return on investment.
The pandemic drove many homeowners to upgrade their homes, but it wasn’t the only factor behind a spike in renovations. According to the National Association of Realtors, homeowners were also motivated by repairing worn-out surfaces and finishes, adding features and improving livability, as well as simply wanting a change. Overall, the majority of surveyed homeowners were satisfied with their home improvements, and 39% reported feeling even more satisfaction after completing their projects.
For most homeowners, a few well-chosen home improvement projects can increase the value of their property significantly. However, the types of home improvement projects that have the highest return on investment can vary by location and market. For example, while a custom-built home recording studio may appeal to you and your family, it is unlikely to attract the attention of potential buyers, and could actually have a negative impact on the resale value of your home.
While you’re working on your next home improvement project, remember that safety should always be a top priority. Whether it’s installing new insulation or removing old flooring, you should take the time to read through any relevant instructions and manuals before you begin. Always use caution when working on electrical or plumbing work, and consider hiring a professional if necessary.
Homeowners pushed back their 2021 projects due to cost (52%), supply chain issues (28%), challenges with pro availability (28%) and disruptions to daily life (30%). While these are the biggest obstacles to completing a home improvement project, a little creativity can help you overcome any challenge and turn your house into a dream home. To help get you started, we’ve rounded up some of our favorite home improvement ideas. From the basics like painting and organizing to more complex projects such as a complete home remodel, these tips are sure to inspire you to start making your own upgrades.