Home Improvement – An Inexpensive Way to Add Value to Your Home

Home improvement, also known as house renovation or remodelling, refers to improvements made on the home’s interior (such as painting and wallpapering) or its exterior (such as masonry work, paving and roofing). The home improvement industry encompasses the sale of building materials, appliances, decor and fixtures, as well as the provision of labour and services to carry out such improvements.

One of the certainties in life is that there will be a need for homeowners to undertake home repair or improvement projects at some time. Sometimes these will be emergencies such as a leaking roof or cracked foundation; others may be prompted by a desire to make the property more comfortable or to accommodate growing families. Still other changes may be motivated by the need to improve a home’s resale value.

According to a recent NerdWallet survey, homeowners are spending more time at home during the pandemic and some are taking on larger home improvement projects. In the past two years, homeowner spending on home repairs/improvements has increased nearly 60% and the average project size has jumped more than 30%.

The good news is that the majority of homeowners say they are able to pay for their projects without dipping into savings or going into debt. And many homeowners are finding satisfaction in doing the work themselves. From re-grouting tile to power washing the siding, these do-it-yourself projects are relatively inexpensive and will likely add real value to your home.