Home improvement is the process of renovating or repairing the interior or exterior of a home. This can include remodeling or installing furniture, painting, refinishing floors, carpeting, installing windows and doors, landscaping, heating, ventilating and air conditioning systems, and more. Home improvements can be made to increase the efficiency of a home, change its appearance, or make it more suitable for sale or rental.
The home improvement industry has seen excellent growth results in recent years. The market includes businesses that manufacture and distribute building materials, decor, appliances and other home enhancements, as well as contractors and tradespeople who help to install, repair or modify homes.
Many homeowners find themselves undertaking a home improvement project at one point or another. In fact, the average homeowner spends $3,890 on home improvement projects each year. And with TV shows such as Fixer Upper and This Old House showcasing how-to on making your home better, it’s no wonder that more and more people are turning to DIY renovation projects.
But it’s important to remember that not all home improvement projects are created equal. Some are a great way to add value to your home, while others may actually decrease its overall worth. And with a variety of home improvement trends on the rise, it’s essential to know which renovations are guaranteed to boost your property’s resale value and which ones are better off leaving to the pros.
Some of the top home improvement trends to watch for include a focus on biophilia goals (incorporating nature-inspired elements into your design), smart home innovations and sustainable construction. These priorities may not have been as prevalent when Bob Vila first started hosting This Old House, but they’re quickly gaining steam.
Other popular trends in home improvement include adding storage space and enhancing curb appeal. Increasing your home’s storage capabilities is a good way to free up space for other projects. And adding simple elements of curb appeal, such as a fresh coat of paint or planting flowers and trees, can have a big impact on how your home looks.
It’s also important to keep in mind that if you’re planning to sell your home, it’s essential to choose upgrades that are suited to the style and location of your neighborhood. Investing in high-end upgrades that are out of sync with the rest of your neighborhood could send the wrong message to potential buyers, and they may be less likely to be willing to pay for your home’s pricey additions. To avoid this, it’s a good idea to consult with a real estate agent about the types of home improvements that are most likely to return your investment.