Home improvement is the construction, repair, replacement, remodel, conversion, renovation or modernization of a residence or building. This includes the addition of rooms, kitchens, baths, garages, sheds, pools and decks. It also can include landscaping and the construction of walls, fences, and other outdoor structures. Each state has its own definition of home improvement, but it usually includes any work done to improve the structure or appearance of a home or property.
The most popular home improvement projects are those that add living space, such as a bathroom or bedroom addition. These renovations tend to have the best resale value. However, it’s important to choose a project that will appeal to potential buyers, as well as one that won’t be too costly.
Some home improvements are simply necessary, such as replacing old window coverings or fixing a leaky roof. These fixes can save money on energy bills and prevent more expensive repairs down the road.
A fresh coat of paint is another easy way to make a house look new. In fact, this is a DIY project that can be completed for less than $500, according to HomeAdvisor.
When it comes to funding home improvement, most homeowners use their own savings for most projects. But the most costly upgrades often require outside financing, such as a loan or home equity line of credit. Other sources of home improvement financing include personal loans, borrowing from family or friends, and contractor-arranged financing.