Home improvement, also known as home renovation or remodeling, refers to the process of renovating one’s living space by adding new features or modifying the existing ones. These projects are carried out for a variety of reasons; from personal comfort and taste, to increasing the value of the house and making it more marketable in case of resale. Some of the more popular home improvement projects include kitchen remodels, bathroom upgrades, and extra bedroom additions.
While the coronavirus pandemic accelerated many homeowners’ plans to renovate, it wasn’t the only reason. Other motivating factors include repairing worn-out surfaces and materials, upgrading appliances and fixtures, adding storage spaces or functional improvements, and simply wanting a change. A study by Groundworks Companies found that people were spending more time at home during the pandemic, which made improving their living environment a higher priority.
Rock-bottom interest rates have encouraged many to borrow money for home improvements, and aging baby boomers are the main force driving home improvement spending. However, if you are tempted to take on a DIY project without proper training or experience, think again. You could end up seriously damaging your property or wasting a lot of money, and it may be in your best interests to seek outside help.
Fortunately, a few simple and affordable do-it-yourself projects can add real value to your home without breaking the bank. From re-grouting tile to power washing the exterior, these simple upgrades can make your house look and feel brand new.