Home improvement is the process of renovating or repairing a home. This includes work such as installing fixtures, painting, paving, adding decks or porches, and making structural changes. Home improvements can be done by contractors or by homeowners, and some projects may even require permits. The home improvement industry has had excellent growth results in recent years.
Oftentimes, home improvements are undertaken with the intent of increasing the value of the property. The most popular home improvement projects are kitchen remodeling and bathroom renovations. Many people also undertake upgrades with the intention of making their homes more attractive and comfortable to live in.
However, not all home improvement projects add value. Some actually detract from the resale value. Some examples include putting in marble floors in the bathrooms, adding an outdoor kitchen or pool and turning garages into living space. These types of upgrades are expensive, but do not always provide a good return on investment.
Some less-expensive and more enjoyable home improvement projects are also gaining popularity. One example is the addition of unique door, cabinet and closet knobs. These are inexpensive and easy to install, and can really make a home pop.
The home improvement industry is very large, encompassing the construction and sale of building materials, appliances, decor, and other home enhancement products. It also includes the services of professionals and contractors, and the sales of tools and equipment used for home improvements. It is estimated that the total market size for home improvement in the United States is about $200 billion.