Home improvement refers to the act of renovating or repairing a residential or noncommercial property. The term is used to describe a broad range of projects, such as kitchen remodels, bathroom renovations, painting, remodeling a backyard or installing decks and fences. In general, the purpose of a home improvement project is to make the property more functional and appealing. In some cases, it may be more about sprucing up and making the house feel fresher.

The 2021 American Housing Survey found that homeowners performed some 135 million home improvement projects during the two-year period, spending more than $624 billion. It was not just the pandemic that caused the surge in renovations, though; homeowners had been planning to do their upgrades long before the pandemic struck. The reason for the spike in home improvements was largely due to a hike in the cost of materials and labor.

According to the NerdWallet survey, almost half of all homeowners are considering doing some type of home improvement in the next few years. Most of these homeowners are looking at smaller projects like painting or updating light fixtures, while others plan on making more significant improvements like adding a room or renovating the kitchen. Some homeowners are even considering putting their homes on the market, so they may be thinking about upgrades that will appeal to potential buyers.

Some home improvements can be costly, but there are ways to make your house more functional and attractive without spending a fortune. A few simple updates like refreshing shower areas, replacing vanities and toilets, re-grouting tile and power washing the exterior of the house can add a lot of value to your home. Other low cost improvements include painting and re-carpeting.

Depending on the scope of your home improvement, you might need to hire a contractor or a handyman. However, be sure to do your research before hiring someone. You should ask friends and neighbors for recommendations, and check references. Also, make sure that the contractor is insured. Lastly, make sure to read the fine print and understand the terms of your contract.

Many people are surprised by how expensive a home improvement can be, so it is important to think about your budget before you start. Be sure to consider the cost of the material, the timeframe for completion and whether or not it will increase your home’s value. It is also a good idea to consider the cost of any loans or credit you will take out to fund the work, and make sure to factor these monthly payments into your budget.

One of the best things you can do to increase the resale value of your home is to add an additional bedroom or bath. It will allow you to accommodate a growing family and it will also add to the overall comfort of your home. However, it is essential to do your research and consult with professionals before committing to any major remodels.