Home improvement is an effort to make the home more aesthetically pleasing, functional or comfortable. This can include replacing worn out appliances or fixtures, adding additional space to an existing house, landscaping the yard, or a variety of other projects. Many of these projects require hiring contractors to perform the work. It is important to select a licensed contractor, with references and experience in your specific type of project. Before selecting a contractor, it is a good idea to get a quote and check for insurance coverage in the event that a worker is injured or damage is caused on your property.

According to the National Association of Realtors (NAR), homeowners spent more on home improvements in 2022 than they did in either 2020 or the previous year. While spending was highest among new home owners and those who moved into their homes one to five years ago, the average homeowner spent about $19,000 on improvements.

Often, these projects are influenced by the desire to keep up with the latest styles and features. However, it is important to keep in mind that some improvements do not recoup their costs and may even decrease the value of your home. For this reason, it is essential to research the return on investment for each home improvement and to choose only those that will add the most value to your property.