Home improvement refers to a wide range of activities performed by homeowners on their properties. It can include repairing, remodeling, altering, painting, installing, converting, or adding on to residential or non-commercial property. It can also refer to the construction of outdoor structures such as fences, decks, patios, garages, and sheds.

According to a recent NerdWallet survey, American homeowners are planning to spend an average of $7,746, on home improvement projects over the next two years. But, with interest rates and inflation on the rise, homeowners may be more cautious about taking on major renovations in the future.

Prioritize the Projects that Bring You Value

It’s important to make smart decisions about which improvements will provide a good return on investment if you decide to sell your house in the future. For example, if your home doesn’t have enough space for everyone in your family to comfortably sleep, renovate your living room rather than adding an extra bedroom that won’t be used anyway.

When you’re choosing a contractor, always get quotes from multiple companies and ask for references. Also, read online reviews to learn what other people’s experiences have been with particular contractors. When you’re ready to start your project, be sure to sign a contract that includes an estimated timeline for completion and a list of all materials required for the job. Also, never pay upfront for work that hasn’t been completed and inspected by the local building department.