Home improvement is the process of renovating or making additions to your home. Home improvements can include a wide variety of projects, including changing a kitchen or bathroom, painting the house, adding landscaping to the yard and many other projects. The goal is to make your home more comfortable and attractive. It can also increase the value of your home.
The home improvement industry has seen excellent growth in recent years. This market includes retail sales of building materials, decor and appliances and services offered by contractors, tradespeople and others who help with renovations. It has been boosted by the COVID-19 pandemic, a strong economy and low interest rates. Home improvements are often done for aesthetic reasons, but may also be carried out to add functionality or improve the safety of the property.
According to Houzz, remodeling and home improvement have become a priority for homeowners this year. They are deterred from moving into another home by rising mortgage rates and are looking to invest in their current homes instead. Homeowners 55 and over are the major force behind this spending, with about half of all renovations being carried out by them.
Whether you want to make your home more beautiful or you are interested in increasing its resale value, it is important that you choose wisely which improvements to do. Many homeowners do not understand that not all improvements will increase the value of your home, and some may even decrease it.
Here are some things to consider before you start your next home improvement project:
1. Think about the value of your home and the neighborhood.
You should always keep in mind that resale values are linked to the value of the neighboring homes in your area. Therefore, renovations that go beyond what is typical for your neighborhood may not return the investment you made in them.
2. Check the local building codes.
It is crucial to follow the local building codes when doing any home improvement projects. This will help prevent costly mistakes down the road and ensure that your work is up to par. You can find most building code information online or by contacting your city planning department.
3. Be sure to check with your contractor before starting any work.
You need to make sure that you are working with a licensed home improvement contractor before beginning any work on your home. A license will show that they have passed a background check and a competency test, which will give you peace of mind that your contractor is qualified to do the work they say they can. In Maryland, a contract for home improvement must be written and signed by both the consumer and the contractor before any work begins or money is exchanged. It must also contain the contractor’s name, address and MHIC number.
Home improvement is a popular pastime and there are plenty of DIY shows on television to inspire you. However, you should always hire a professional to complete any major renovations and to ensure that all work is completed properly. Otherwise, you could end up with a renovation that is not only expensive but potentially dangerous.