Home improvement refers to a wide range of activities that enhance the function, beauty and value of your home. It encompasses remodeling, repairs, and maintenance. Some common home improvement projects include painting, resurfacing of pavement and driveways, installations, decks and porches, and the construction of additions. Home improvement also includes yard work, such as landscaping and gardening.
In the United States, the home improvement industry is a multibillion dollar business. It consists of retail and service businesses that supply the materials needed for home improvement projects, as well as contractors that perform the work. Many homeowners choose to complete home improvement projects themselves, rather than hiring professional contractors. However, if you do hire contractors, it is important to compare them based on their prices, quality of work, and level of expertise.
Homeowners often choose to do home improvements in order to increase the resale value of their property. A home improvement project can be a great way to increase the amount of living space in your house, such as adding an extra bedroom or bathroom. Another popular home improvement is installing a new kitchen or upgrading the existing one.
The popularity of television home improvement shows has contributed to the growth of this industry. These shows present step by step instructions for completing a home improvement project and offer helpful tips to viewers. Homeowners are inspired by the shows to undertake a DIY project and save money at the same time.
A significant trend in home improvement is the movement towards historical design elements. Consumers want to recreate the look of older homes by using elements such as fake molding, columns and wainscoting. Many manufacturers have responded to this demand by selling low-cost imitation molding and other historic elements.
In terms of financing, most home improvement projects are paid for with cash from savings. More expensive renovations are financed with sources such as mortgage refinancing, credit cards and contractor arranged financing. Home equity loans are another common source of funding for home improvements.
As a result of the pandemic, some homeowners have delayed home improvement projects because they are worried about their contractors being exposed to the virus. In addition, some are concerned about the safety measures that contractors should take when working in their home. As a result, three-fourths of respondents in our September survey said that they would be more cautious than usual about allowing contractors into their homes. It is recommended that homeowners talk to contractors about their pandemic safety concerns before the work begins. It is also suggested that homeowners set their contractors clear expectations about wearing masks and other safety measures. This should help to alleviate some of the fears that consumers have about hiring contractors during the coronavirus pandemic.