Home Improvement – What is it and Why Should You Do It?

Home improvement

Home improvement is the process of repairing or renovating a home. This can include but is not limited to painting, carpeting, tiling, installing appliances and lighting, replacing doors or windows, and so on. The industry includes retailers that sell building materials, equipment and decor for these projects as well as contractors, tradespeople, and others who undertake the actual construction or remodeling.

Home renovation is one of the most popular ways for homeowners to increase the value of their homes. In addition to increasing the resale value of your house, home improvements can also provide you with a sense of satisfaction and pride in ownership of your home. If you are considering making a home renovation, it is important to consider whether or not the project is financially feasible and what the return on investment will be.

While it may be tempting to go on a spending spree in order to improve your home, you should always think twice before taking out a loan or using credit cards to fund a renovation project. Going into debt to finance a home improvement can lead to financial hardship down the road, especially if interest rates go up or your income goes down. Furthermore, if you plan to stay in your home for a while, it might be more sensible to wait until you are able to save up funds for the project and pay for it outright.

According to a recent NerdWallet survey, nearly half of all homeowners are planning some form of home improvement over the next two years. Of those, 54% say they are doing so to make their home more comfortable for themselves and their families. Just 1 in 5 are doing it to appeal to potential buyers if they decide to sell their home in the future.

The most common home improvement projects are kitchen renovations and bathroom remodels. Other top projects are adding a patio or deck, putting in a swimming pool, and upgrading the roof. However, you should always check with a real estate professional before starting any major renovations to find out what upgrades will give you the highest return on your investment.

Another thing to keep in mind is that home improvements tend to raise neighborhood standards, which can result in increased property values for all the houses in the area. So, before you start making improvements to your home, be sure you talk with the neighbors and see what they are doing.

If you are a fan of the TV show Home Improvement, you may be interested to learn that Tim Allen (Henry Wilson), Richard Karn (Randy), and Casey Sander (Jonathan Taylor Thomas) had a reunion in 2003 for a special called Tim Allen Presents: A User’s Guide to Home Improvement. It featured clips from the show, as well as personal reflections and tips from the cast. Sadly, the reunion was short-lived as Jonathan Taylor Thomas passed away in 2004 due to an undiagnosed brain tumor.