Home improvement is an activity that involves improving or repairing the interior or exterior of a home. This can include projects like painting, remodeling kitchens and bathrooms, adding windows or doors, landscaping the yard, and installing insulation. The goal of home improvement is to make a house more attractive and functional for its inhabitants. Home improvement can also increase the value of a property.
In 2022, American homeowners completed more than 115 million home improvement projects. That’s an increase of more than $72 billion from the previous two-year period, according to the U.S. Census Bureau’s most recent American Housing Survey. While the pandemic certainly led to a surge in renovations, the National Association of Realtors points out that 83% of surveyed homeowners said they planned to renovate regardless of the COVID-19 pandemic.
Even so, homeowners are putting the brakes on some ambitious projects. For instance, Lowe’s and Home Depot report that they’ve seen fewer homeowners purchasing new tub-to-shower conversion kits or replacing their kitchen appliances. And a recent NerdWallet poll found that 3 in 5 homeowners have been reluctant to let home repair or improvement professionals into their homes during the COVID-19 lockdown because of safety concerns.
But the home improvement industry is optimistic that households will re-engage with their upgrades in 2024. “There is pent-up demand, and the economy has improved to the point that consumers will start looking at bigger projects,” says Emmanuel Forge, a traveling contractor who posts DIY advice on TikTok and Instagram under the Remodel School brand.
Many homeowners are still uncertain about the difference between home renovation and home improvement. Some believe they are synonymous, but this is not true. While both are aimed at enhancing the appearance of one’s house, a remodel is a more extensive project that can involve adding room additions, building a swimming pool or changing the structure of the house. A home improvement, on the other hand, can be as simple as fixing a leaky faucet or adding new light fixtures.
Despite the confusion, there is an opportunity for home improvement contractors to market themselves as specialists in specific areas of the home. Moreover, it’s important for homeowners to be aware of the differences between home repair and home improvement and the importance of hiring qualified contractors.
The most popular home improvement projects are painting, installing window treatments and landscaping. While it is possible to complete most of these projects by yourself, it’s recommended that you hire a professional contractor to ensure quality results and avoid costly mistakes.
Whether you’re interested in a major remodel or minor repairs, these quick and easy do-it-yourself projects can add a fresh, inviting touch to your home. Adding a fresh coat of paint to your front door, adding some colorful flowers to the garden or hanging a new welcome mat at the entrance are all inexpensive ways to improve your curb appeal. The result will be a home that’s more welcoming and will increase the likelihood of getting more inquiries from prospective buyers.