Residential home improvement is defined as the remodeling, altering, painting, repairing, renovating, restoring, moving, demolishing, or making additions to any residential or noncommercial property. Home improvement can also include the installation of solar heating or water systems, insulation installation and siding, window replacements, and porches or garages.
The pandemic saw a significant increase in home renovations, with many homeowners choosing to complete DIY projects rather than hiring professionals. The National Association of Realtors reports that these do-it-yourself projects were often a way for consumers to channel their energy and focus on entertaining or working from home. Many found satisfaction in completing these projects and were inspired to renovate their homes further.
While a repainted kitchen or a rearranged living room may make the house feel fresh and more functional, not all improvements add value. Homeowners are encouraged to seek professional advice to ensure that the work they are having done is of a good quality and will help to improve their house’s overall function and appeal.
Depending on the type of project being undertaken, some renovations will require permits. It is the homeowner’s responsibility to check with their municipality for the rules and regulations relating to this. It is recommended that homeowners perform due diligence when selecting a contractor for the work, including verifying license and insurance as well as checking business references and prior experience.
The most important factor to consider when deciding on a home improvement project is whether it will increase the home’s value. A major renovation such as adding a great room or another bathroom will likely provide a high return on investment, while a more cosmetic project such as replacing a door handle will not.