Home improvement is a term that describes projects done to improve the interior and exterior of an existing home. It’s also known as remodeling. Home improvement projects include everything from painting to adding new features. It can also include improving property value. The most common type of home improvement project is the addition of a kitchen or bathroom. This can be a relatively inexpensive and satisfying way to make your home look better. Here are some tips for completing this type of project.
The home improvement industry represents about $400 billion in annual revenue and is expected to grow to $510 billion by 2024. This is a growth rate of 4% year-over-year, and includes both do-it-yourself projects and professional remodels. In addition, home equity has increased 16.2% year-over-year since 2019, making it easier to increase spending on home improvements. As a result, the average homeowner is planning to do more home improvement projects in the years to come.
Home improvement projects range from painting walls to installing new countertops, cabinets, and tile. You can also update appliances, fixtures, and heating and cooling systems. Adding new hardware to rooms is a cost-effective way to update the look of the home. A new kitchen faucet or showerhead will immediately make an impression. And if you’re looking for more substantial upgrades, consider installing a new bathroom bathtub, shower, or toilet.