Home improvement, also known as remodeling, is the renovation of existing homes for a variety of reasons. These include making the house more livable, improving energy efficiency, enhancing appearance, and adding security features. The industry focuses on both resale and rental properties, as well as new construction. It includes the installation of appliances, cabinets, flooring, paint, and other interior and exterior finishes. It also covers work on sheds, pools, decks, patios, porches, and other structures attached to the home.

According to the National Association of Realtors (NAR), renovations spiked during the COVID-19 pandemic, with homeowners spending more to upgrade their living spaces. This spike was attributed to the fact that people wanted to spend more time at home during the pandemic, but NAR said it was mostly due to rock-bottom interest rates and an overall feeling that renovating is a good investment.

Another reason for the increase in home improvements is the need to protect against extreme weather changes such as wildfires, hurricanes, and floods. For example, many homeowners are now installing stronger windows with better insulation to protect their homes from harsh weather conditions.

Home improvements can be costly, but it is important to choose projects that add value to the house. This means choosing projects that are easy to do, cost-effective, and that will appeal to most potential buyers. It is also important to keep in mind that certain types of projects can decrease the home’s value.