Home improvement is a term used to describe any renovation or repair to a residence. The projects involved range from a new front door to repairing the roof or siding.
Although home improvements can enhance the value of a home, it is important to plan the project carefully. The resale value of a renovated house can suffer if the homeowner makes a lot of changes or if the project is too extensive.
Many consumers are planning to make major changes to their homes in the coming year. A survey conducted by Minneapolis marketing firm Axiom found that more than one-third of DIYers plan to do some of their own work on a home improvement project.
Home owners are also planning to hire a professional for many of their projects. The majority of homeowners intend to hire a contractor for all or part of their projects.
More than three-quarters of consumers surveyed by Axiom plan to spend more time on their home projects in 2021 than they did in 2010. Some respondents said they planned to undertake multiple projects.
When considering a home improvement project, the first step is to consider your budget. Having a fixed amount to spend can help you avoid going over your budget. Also, a budget should be realistic and leave room for future changes.
If you are in the market for a home renovation, it is always a good idea to check with your insurance agent and your local building code. Make sure that any contractor you hire is licensed, insured and has references.