Home improvement involves the remodeling, altering, renovating, repairing, restoring or modernizing of the exterior and interior of a residential building. It also includes adding or modifying structures like a garage, shed, deck, patio, garden and fences.
Homeowners are increasingly willing to put in the work, with 3 in 5 reporting doing at least one project during the pandemic. This may reflect the fact that, for many, the home is a retreat from the chaos of the outside world.
The most popular projects are aimed at increasing living space and boosting the home’s resale value. They include adding an extra bedroom or bathroom (especially for aging homeowners), putting in new flooring and installing new kitchen appliances.
Other common improvements include refreshing shower areas, replacing vanities and toilets, laying new tile, fitting new countertops, and adding fixtures and lighting. These are often inexpensive to complete and can have a high ROI.
Other more expensive upgrades, such as a koi pond and water feature in the backyard, are less likely to add much value to your house. If you are thinking of making such a major change, talk to a real estate agent first to see whether it would be worth the expense and effort. They can advise you about which projects will be the most cost-effective and increase your chances of selling.