Home improvement is a broad category of work that can be done to improve the appearance of an existing house or apartment. It also includes the construction of additions to a dwelling, or the addition of space, such as a new room or garage. The home improvement industry is a multibillion dollar market, and it is growing quickly.

Television schedules are packed to the brim with shows about home renovations. But it’s one thing to watch Fixer Upper or This Old House and another to pick up a hammer yourself. Before you dive in head first, there are a few key things you should know.

The best renovations increase a property’s value and make it easier to sell. But some projects can actually cost you money in the long run. It’s crucial to understand a project’s return on investment (ROI) before you begin.

The pandemic has slowed home improvement spending, but it hasn’t stopped it entirely. About 3 in 5 homeowners have taken on projects since March, according to the August NerdWallet survey. But more than half said they wouldn’t allow home repair/improvement professionals into their homes because of safety concerns related to the coronavirus. And nearly half of all respondents cited a lack of time as the biggest obstacle to finishing their home improvement projects. For these reasons, it’s a good idea to find an experienced contractor before you start your next project. Choosing the right contractor can save you money, time, and stress.