Home improvement is the act of making changes to improve a residence. This can include renovations to the interior or exterior of a house, as well as adding fixtures and appliances. Home improvements can be expensive, but they can also add value to a property. In some cases, homeowners can even qualify for tax deductions for certain home improvements.

Whether you’re a new homeowner or looking to sell in the future, it’s important to make home improvements with return on investment (ROI) in mind. While few upgrades will recoup 100% of their cost, a handful of high-quality projects can increase buyer interest and boost your home’s resale value.

American homeowners have developed a renewed appetite for home improvement projects in recent years. Between 2019 and 2021, homeowner spending on home improvement increased more than half a trillion dollars, according to the latest data from the American Housing Survey. However, rising prices and a possible recession may influence how much home renovation projects are undertaken moving forward.

The majority of the home improvement projects taking place are focused on outdoor activities, such as building decks and installing fences. Other popular projects include landscaping and installing central air conditioning. Many of these projects are likely being undertaken to take advantage of lower-than-average home improvement prices, which could bolster demand for home remodeling services in the near future.

For those homeowners who are considering taking on a home improvement project, it’s crucial to research contractors and compare costs. There are several factors to consider, including the contractor’s reputation, licensing and insurance. Additionally, it’s important to look for a company that offers a transparent pricing structure and is willing to work with you on your budget.

While HGTV is packed with shows about home renovations, it can be a tricky task to turn a DIY dream into a reality. Having the right home improvement tips can help you avoid common mistakes and save money along the way.

If you’re thinking of hiring a contractor to complete your next home improvement project, it’s important to find one that has a strong track record and is licensed, insured and bonded. It’s also recommended that you ask for a written estimate before starting any work, and always get a second opinion.

Despite a cooling-off period during the COVID-19 pandemic, Americans are still planning and investing in their homes. In fact, more than one in three planned major home improvements for the next two years, according to a new report from Lowe’s and Home Depot. But householders seem to be pulling back on some of their more ambitious renovation projects, in favor of lower-cost updates they can tackle themselves. The reason? Increasing prices, which are squeezing budgets and stretching household income.