Home improvement is any renovation, remodeling or upgrade that enhances the function and/or appearance of a home. It also includes the addition of fixtures, furniture or accessories. Home improvement also refers to the repair, maintenance and replacement of existing home elements. Home improvement projects can range from painting a room to building a deck. In general, homeowners make improvements to increase the value of their homes or simply to improve their quality of life. The most valuable home improvements are those that pay for themselves in terms of increased home equity or a higher home price when the house is sold.
The most popular home improvement projects are kitchen remodels. This is especially true in older homes with outdated or worn cabinets, old or damaged appliances, and dingy walls and paint. The good news is that replacing appliances and adding new cabinets are among the top three most cost-effective ways to make an impact.
Other valuable home improvements include replacing an old or inefficient heating system, a new water heater, and energy-efficient windows and doors. Replacing a roof, adding a deck or patio, and remodeling the bathroom are also projects that add value to a home.
One of the most important things to keep in mind when doing a home improvement project is to know what you want to do before you hire a contractor. A detailed list will enable you to negotiate with contractors and lock in prices. It will also help you avoid being ripped off by unscrupulous contractors who might try to sell you on unnecessary work or extra charges. It is also a good idea to look for reviews of contractors before hiring them.
Most people undertake some kind of home improvement during their lives. The reasons can be varied, from making the house more pleasant to live in to repairing damage caused by natural disasters. Some of the more common renovations are opening up rooms, installing new appliances, and adding decorative items. Others are less obvious, such as cleaning and maintaining the garden or swimming pool.
Many of these home improvements may be expensive, but some can be as low-cost as a fresh coat of paint or a well-maintained yard. Regardless of the type of home improvement you choose, it is important to plan and budget carefully before beginning any project. The more detailed your plans are, the easier it will be to keep them on schedule and within budget.
There are several types of financing available for home improvements. Home equity loans are an option for many homeowners. These are installment loans, with repayment terms ranging from 5-30 years, with fixed monthly payments. They are based on the amount of equity in your home, and are usually secured by your mortgage. Personal loans are another option for home improvements, and are typically more flexible than a home equity loan. However, they can have high interest rates, and are often subject to credit checks.