Home improvement is a broad category of home renovation, repair and maintenance projects that are done to improve the function, safety or beauty of a residence. It includes, but is not limited to work on doors, windows, trim, siding, lighting fixtures and appliances, flooring, carpeting, painting, masonry, landscaping and fences. The term is also applied to the erection, modification or conversion of any structure, to a particular purpose such as converting a garage into a living space.
Home remodeling is becoming more popular during these uncertain times, as homeowners feel safer in their well-maintained homes and are motivated by a desire to make the most of their investment. Home improvement project spending peaked in 2022 and is expected to decline slightly in 2024 due to stalled home sales and mortgage refinancing.
The most popular projects tend to focus on the exterior of a house. Deck construction is up threefold, and hiring landscapers and building fences are also surging. However, these projects don’t necessarily add value to a home, especially if the improvements are well above what other homes in the neighborhood have.
In order to get the best return on your Home improvement projects, it is important to keep a budget in mind and stick to it. Getting quotes from multiple contractors is essential to making sure that the work you want done is affordable and fits within your budget. It is also a good idea to use a contractor that is licensed in New York State. Licensed contractors are required to provide you with a contract that includes the scope of work, the estimated cost and payment schedule. The contract should also contain details about the materials to be used and the brands of those materials.