In home improvement, a home renovation or remodeling is the work done on a house to improve its looks or make it more functional. This may include interior or exterior work, such as painting, room additions, building or replacing decks and fences, or the construction of new homes. It also includes making improvements or changes to the property’s grounds, such as landscaping and garden maintenance. Home improvement projects are often undertaken for a variety of reasons, such as adding to a property’s value, improving the quality of life within the home or making it more energy efficient.
Although many professional home remodels stalled during the COVID-19 pandemic, homeowners have developed a renewed interest in the home remodeling industry as they modify their living spaces to meet their evolving needs and wants. This surge in home improvement has been fueled by the resurgence of homeownership, an increase in multigenerational households, and the flexibility that remote work offers, among other factors.
Many homeowners have also found that rock-bottom interest rates and their desire to invest in a safe, comfortable place to live are driving this trend. Anderson says that the categories of home improvement surging the most are those that deal with the outdoor space: “Deck construction is up 275%, hiring landscapers is up 144%, and fence construction is up 238%.” These types of projects tend to be more costly, which is why many people opt for DIY rather than hiring professionals.