Home improvement or home renovation is the process of remodeling and making additions to a residential property. Home improvement projects may include interior work (such as painting, wallpapering or installing new fixtures), exterior work (such as adding decks, fences or shingles), and garden work (such as landscaping or paving).
While many homeowners do some home improvement projects on their own, hiring a professional is a popular option. However, homeowners should carefully research contractors to ensure they are licensed and insured. They should also request references and check whether a contractor is part of a trade association or accredited by a professional organization. In addition, homeowners should only hire contractors with a proven track record of high-quality work and customer satisfaction.
During the pandemic, more Americans have been spending time at home and have sought ways to make their homes more comfortable and welcoming. As a result, the home improvement industry has grown, with the Joint Center for Housing Studies of Harvard University (JCHS) predicting that 2023 revenues will be $485 billion.
A major home improvement project can be a rewarding endeavor, but it can also be very expensive. As such, it’s important to understand how much a home improvement project costs before you decide to undertake one. This article will cover what homeowners can expect to spend on popular home improvement projects and offer helpful tips on avoiding overspending.