Home improvement is a term that describes a wide range of projects aimed at improving the interior and exterior of a home. Home improvement projects can involve interior renovations, exterior upgrades, and property improvements. It is a popular activity that offers a variety of benefits to home owners. However, you should consider several factors before launching your next project.
First, make sure you’re following all local and state regulations for home improvement projects. Some state laws prohibit certain types of home improvements, such as tearing down an entire building, adding a deck, or resurfacing pavement. To determine if the work you’re planning to perform is legal, check with a CPA.
Second, home improvement contractors must obtain a business license before doing work on a home. If you’re a corporation, the license must be issued to one of its officers. Otherwise, it must be issued in the name of an individual. Some counties allow you to transfer a contractor’s license to someone else, but you must ask for the licensing authority’s permission to do so.
Another factor that makes home improvement projects appealing is the low interest rates. With a low interest rate, home owners can afford to spend more on home improvement projects, which is especially beneficial during uncertain economic times. Home improvement projects involving exterior or backyard work are particularly popular these days, with three-fold increases in the construction of decks, fences, and hiring landscapers over the past year.