Home improvement is the process of improving the interior and exterior of a residence through remodeling or adding on. It can also include repairing, maintaining or restoring items within the house such as changing locks, painting rooms and upgrading electrical systems. Many homeowners find that renovating their homes adds value and makes living more comfortable.
Some of the most popular home improvements are kitchens and baths, energy-efficient heating, cooling and insulation, adding a deck or patio, replacing windows, and installing new flooring. However, it is important to remember that not all home projects add value or increase resale price. In addition, a poorly executed renovation project can make your home more expensive to live in and decrease its future resale value.
Regardless of the size of your home or the scope of the project, it is important to choose the right contractor for the job. Using a professional contractor with a license and insurance is one way to ensure the job will be done correctly and safely.
It is also important to know your state’s laws on home improvement. For example, in New York, a homeowner can get documentation that their project qualifies as a capital improvement by filing with the Department of Taxation and Finance. This will exempt the cost of labor from sales tax.
A common myth is that homeowners need to undertake large HGTV-style remodels to see a return on investment or satisfaction from their projects. But in reality, small updates can also be valuable and affordable.