Home improvement, also known as home renovation or remodeling, is the process of renovating or improving a living space. This may include changing flooring, painting rooms or adding new features. Home improvements are a great way to add value and function to your property. However, it is important to keep in mind that not all home improvements offer a high return on investment. It is also important to be aware of potential safety hazards associated with home improvements.
Homeowners are spending a lot of money on home renovation projects, and there’s no sign that the trend is slowing down. In fact, according to a new report from JCHS, the remodeling industry grew in 2021 and 2022.
But is all that spending worth it? And what projects will provide the best return on investment? To find out, let’s explore the latest industry reports and research on home improvement.
Before you start your next home renovation, it’s a good idea to create a budget and assess your financing options. This will help ensure that you don’t overspend or end up in debt that could jeopardize your financial security in the long run.
It’s also important to choose your projects carefully, settling on those that are likely to appeal to the largest number of prospective buyers and that won’t detract from your home’s curbside appeal. And always hire a licensed, insured contractor to work on your project. Make sure you get a contract with a detailed timeline for completion, a payment schedule and a clear description of the work to be performed.
