Home improvement is the repairing, restoring, altering, improving, or upgrading of a residential building. It also includes the addition of a room or structure to a house, such as a patio or gazebo. This industry is booming and is expected to continue growing well into the future.
The home improvement industry is comprised of retail and wholesale businesses that offer a wide variety of products and services to homeowners. The industry also includes a large number of independent contractors, who perform many home improvement projects for their clients. There is also a substantial aggregator market, where companies bundle home improvement services and sell them to consumers.
While most homeowners are aware that making improvements to their homes can add value, they are often less clear about which renovations will make a difference. This can lead to some homeowners over-investing in their home, causing them to have difficulty recouping the costs when they sell the property.
In order to avoid this, it is recommended that homeowners consult a realtor to determine which renovations are likely to increase the resale value of the property and which may not be worth the investment. Homeowners should also carefully consider their own personal comfort level before undertaking any home improvement projects. If a project will be very disruptive to daily life, it should not be undertaken without careful consideration. Lastly, it is important for homeowners to obtain a written contract for all home improvement work. This should clearly detail the scope of the work, the estimated cost, and the payment terms. The contract should also include any warranties for materials and workmanship.