What is Home Improvement?
Home improvement is the process of renovating or repairing one’s home. This can be done for aesthetic or practical reasons. Home improvement projects are often expensive and time consuming, but can add value to one’s home.
In the United States, there are a number of different options for financing home improvements. Most homeowners pay for minor projects with cash from savings, but larger projects such as new kitchens or bathrooms are often paid for with a combination of cash from savings, credit cards, personal loans, or home equity lines of credit. Some home improvement projects are also eligible for government grants.
Most homeowners renovate for their own comfort and enjoyment, but some renovations are made to increase the resale value of a home. If a homeowner is considering making any significant changes to their home that may negatively impact the resale value, they should consult with a real estate agent before beginning work. Some common home improvements that can significantly increase resale value include adding a master suite, opening up the floor plan, replacing the front door, and updating kitchens and bathrooms.
Many homeowners also renovate to make their homes more energy efficient. This can be achieved by installing new windows, a heat pump, or additional insulation. Other improvements that can save money on energy bills include replacing incandescent light bulbs with LEDs and using energy-efficient appliances. Homeowners can also save money by doing simple maintenance tasks such as painting, re-grouting tile, and power washing their home’s exterior.