What Is Home Improvement?

Home improvement is the repair, renovation, alteration, restoration, modernization, or addition to a residential building. It also includes the installation of certain appliances and fixtures. Generally, material costs are tax-exempt if you have documentation that the work meets the definition of home improvement.

According to the American Housing Survey, homeowners are spending a lot of money on home improvements this year. Some projects will increase a home’s value while others won’t, and it is important to plan carefully before beginning any work.

If you are remodeling your home for resale, it is important to remember that not all renovations add equal amounts of value. In fact, many remodels and improvements don’t return the initial investment at all. A sparkling bathroom overhaul may seem like a good idea, but if you’re only getting 60 percent of your money back when you sell the house, it’s not really worth the investment.

A well-written contract is essential to the success of any home improvement project. It should include a description of the work to be performed, the materials to be used, and the approximate dates when the performance will begin and be substantially completed. The contract should also contain the name, address, and MHIC license number of the contractor.

When hiring a contractor, it is recommended that you check the MHIC database for complaints against the company and perform a background check. You should also ask for references and verify their licensing and insurance status. You should never hire a contractor who refuses to provide these documents.

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