Home improvement refers to any type of renovation or repair that enhances the appearance of a residential building. It includes interior and exterior projects. Home improvements can also include replacing and upgrading appliances, installing a new kitchen or bathroom, and adding decks or porches.
The most popular home improvement projects are those that improve the home’s curb appeal and add value to the property. Some examples of this type of project would be replacing the front door or refinishing hardwood floors. Other common home improvements include painting, re-carpeting and refinishing cabinetry. These updates are relatively inexpensive and can make a significant impact on a home’s appearance.
In addition to improving the look of a home, home improvements can help reduce energy costs by updating heating and cooling systems or by installing solar panels. New home-improvement products are continuously being developed, including smart thermostats that learn a homeowner’s behavior and automatically adjust to optimize energy consumption.
Some home improvement projects, however, may not provide a good return on investment when it comes time to sell the house. For example, installing a new master suite with a spa-like bathroom and walk-in closet may not be worth the extra cost if other homes in the neighborhood do not have this feature. It is important to discuss any plans for home improvement with a real estate professional and only invest in projects that will increase the chances of a quick sale at a good price.