Home improvement is any renovation, repair, alteration, addition, extension or conversion of a residential building or property. It includes but is not limited to the construction of fences, garden sheds, gazebos, garages, pools or any other improvements to real estate. Home improvement may also include repairs, maintenance, painting, resurfacing of driveways, patios, decks and the installation of heating, ventilation and air conditioning systems or insulation.

According to the American Housing Survey (AHS), about 3 in 5 homeowners have done projects around their homes in the past two years. But it’s important to remember that the AHS doesn’t break down projects by their scale or cost, so the data is a bit generalized.

If you’re thinking of doing a big home improvement project, talk to a realtor in your area to see which projects will really add value to your home. And avoid doing any high-end projects that will make your house stand out in a bad way. Unless you’re planning to sell your home in the future, it’s generally not a good idea to go into debt for renovations. It’s just more money that you’ll have to pay back later, plus interest, which is never a great thing. You’re much better off saving and doing small upgrades over time. And remember to get a contract with any contractor you hire, which should include the schedule for work and payment terms. It should also have as many details as possible about materials and costs.