Home improvement, also known as home renovation or remodeling, refers to a wide range of work that can be done to improve the interior and exterior of a house. Typically, this involves repair and maintenance work but can also include adding or replacing features such as windows, doors, and siding; installing lighting, plumbing, and appliances; or making the home energy-efficient through the installation of solar panels and insulation.
A common home improvement project is adding or updating kitchen and bathroom appliances. New refrigerators, washer-dryers, dishwashers, and ovens tend to be more energy-efficient than older models, which can help you save on your utility bills.
Other popular home improvements include putting in a deck, a fence, or a patio, building an addition such as an extra bedroom or a sunroom, and updating the flooring. Homeowners should make sure they choose a quality contractor and get all contracts in writing, including a detailed description of the work to be performed, a completion date, a payment schedule, and any other terms or conditions agreed upon by both parties. The contract should also contain any warranties the contractor offers on the materials and workmanship.
Keep in mind that not all home improvements add value to a home. In fact, some may even detract from a property’s resale value by turning off potential buyers. Invest in upgrades that will complement your home and fit your budget. And don’t go into debt to finance your renovations—it can be difficult to recoup those costs when it comes time to sell.