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

Home improvement, also known as home renovation or remodeling, is the process of renovating the interior and exterior of a house. This includes changing room layouts, painting, replacing fixtures and fittings, installing new flooring, and adding or removing walls. Home improvements can be made for a variety of reasons, such as increasing comfort, improving energy efficiency, or making the space more functional.

Certainties in life include death, taxes and if you’re a homeowner, the constant need for home repairs and improvements. While most homeowners have a to-do list of projects they plan to tackle, other “improvements” seem to come out of nowhere — like that plumbing leak that turns into a rotting subfloor or that flooded basement you just can’t ignore.

According to the 2021 American Housing Survey, homeowners spent an estimated $624 billion on home improvement over a two-year period, nearly doubling their total from just a decade earlier. The majority of these projects were completed by professional contractors, but DIYers also made significant contributions to home improvement.

Rock-bottom interest rates and a desire to feel more satisfied with their living spaces are driving homeowners to spend more on home improvements. But the best home improvement projects may not be those that increase a property’s resale value. While a few renovations offer a return on investment of over 100%, most only add modestly to overall home value. Even so, a well-planned project can yield immediate satisfaction and long-term benefits.