Home improvement refers to the repair, maintenance or restoration of residential real estate such as a house, room or yard. It also includes the construction or installation of fixtures such as sinks, cabinets, doors, windows, or roofs. Home improvements can increase a home’s value or make it more functional for the people living there.
The most popular projects are those that add function to a home, such as adding another bathroom or converting a basement into a family room. Other good home improvement projects include increasing energy efficiency by installing new windows, a heat pump or added insulation. These types of projects can decrease energy bills and pay for themselves over time.
Some home improvement projects can’t wait, such as repairing a leaky roof or replacing a worn-out carpet. These projects are important to ensure the safety and comfort of the home’s occupants. It’s also necessary to take care of any problems immediately in order to avoid costly damage in the future.
Other reasons homeowners renovate their homes include increasing a home’s livable square footage by adding an addition or upgrading the kitchen or bathrooms. Homeowners are also adding outdoor living spaces, such as decks and gazebos.
The popularity of television home improvement shows and a growing interest in craftsmanship have helped fuel the growth of the industry. Rock-bottom interest rates have also made it easier for many homeowners to finance their home improvements. Some people save money to pay for a project as it progresses, while others use credit cards or obtain home equity lines of credit.