Home improvement is the repair, maintenance and restoration of residential real property, including the outdoor areas such as gardens and yards. It is in contrast with commercial improvement, which improves commercial buildings or land.
Many people undertake home improvement projects as a way to add value to their homes, but they should be careful not to go overboard. It’s easy to overspend, and even worse, many homeowners end up going into debt when they take on too much work. If you want to make sure your renovations pay off when it comes time to sell, consult a real estate agent. They will be able to advise you on which projects are likely to increase your home’s value and which ones you should skip.
According to a recent survey by Real Estate Witch, a number of different factors have contributed to the increase in home improvement spending. Higher housing prices have boosted the equity in most homes, and the population of older homeowners has increased the demand for home repairs. Home improvement shows on television have also helped, by encouraging viewers to recreate the style of older homes in their suburban developments.
When choosing a contractor, it is important to get several estimates and compare them on price, reputation and experience. Ask for references and contact previous customers to find out whether they were happy with the job. In addition, Maryland law requires that contracts for home improvement projects include the name and address of the business and its MHIC license number.