The term “home improvement” covers a wide range of projects and renovations, including adding or renovating rooms, fixing plumbing and electrical systems, redoing the kitchen or bathroom, and adding landscaping to the yard. While some home improvements can be done on a DIY basis, others require the services of a contractor or skilled handyman.
For some homeowners, the motivation behind home improvement is a combination of personal preference and increased home value. After all, who doesn’t want a sparkling bathroom overhaul or a state-of-the-art kitchen? But it’s important to remember that not all remodeling projects add equal value. In fact, some may actually decrease your house’s resale price.
A new wave of do-it-yourselfers has helped fuel the home improvement industry. Once dominated by men and fueled by the promotion of carpentry-related products, like power tools, home improvement became a multifaceted leisure activity for couples and families after World War II. Home-center chains expanded their product lines and started marketing themselves as one-stop shops for everything a homeowner might need to make home repairs or improve the aesthetics of a room.
The most popular home improvement projects include a master suite addition, adding an extra bathroom and updating a kitchen. Many of these projects can be done on a budget. If you’re unsure about which improvements to make, it might be worth inviting a designer over to check out your home. Most charge a small hourly fee and can offer some great ideas on ways to improve the look and functionality of your home without opening a new line of credit.