Home improvement refers to any renovation or remodeling of the interior or exterior of a building. This includes work like painting, staining or coating; installing new carpets, drywall, tile or flooring; replacing windows and doors; or repairing gutters, downspouts or roofs. It can also include outdoor construction like decks, patios or swimming pools and any other structures on the property such as a detached garage, fences, boundary walls, retaining walls not necessary for the structural stability of a building and/or nonpermanent landscaping improvements.
The reasons why people choose to undertake a Home improvement project can vary. A common reason is to improve the overall look and feel of a house. Other reasons include making the house more energy-efficient. For example, new windows and added insulation can decrease heating and cooling costs.
Another reason for Home improvements is to fix issues that could become dangerous or expensive if left unattended, such as electrical problems or a crack in the foundation. Some homeowners also renovate to make their homes more functional for their family. For instance, adding a second bathroom or a backyard deck can increase usable living space.
According to a September NerdWallet survey, three-fourths of homeowners say they are “easily able” to pay for most of their home repair and improvement projects without having to dip into savings or go into debt. However, some projects can wind up costing more than expected — such as finding out that a plumbing leak was actually a rotten subfloor or that your contractor’s shoddy repairs have led to an ongoing leaky roof. To avoid this, a good rule of thumb is to plan a budget and stick to it.