Home improvement is any project that involves repairing, upgrading or changing the interior or exterior of a home. These projects can range from small changes to a single room to complete renovations of the entire house. Generally, these home improvement projects are undertaken for a number of reasons; for example, to improve comfort and convenience, increase the value of the property or as a way of improving safety.
It is a very large industry that covers the sale of building materials, appliances and decor as well as the services provided by contractors and tradespeople. The home improvement industry has been growing faster than most others since the recession and is expected to keep gaining momentum in the years to come.
The American Housing Survey shows that the percentage of homeowners taking on home improvements has grown to nearly 50 percent. The majority of the spending is done by those over 55, who are more financially equipped to pay for home renovations.
This type of work often requires a contractor, who may need to be licensed. Usually, it is best to hire a contractor who has a solid track record in the industry and is fully insured. You should also check the contractor’s references to ensure that they have been reputable and reliable in their previous work.
A home improvement contract must include details such as the job description, materials to be used and dates of performance. The contract should also contain a deposit amount and payment schedule.
Home improvement laws are different in each state. Some states require a home improvement contractor to have a license or insurance and to pass a test on the law and general business competency. Other states allow unlicensed companies to perform home improvement work and recommend checking their credentials prior to hiring them.
Depending on the jurisdiction, the homeowner may be required to pay a sales tax for the work performed by the contractor. Moreover, some states require a home improvement contractor to be paid in cash or by check.
The home improvement industry is a large and important industry. It has been growing more than 50 percent in the United States since 2010, with an increasing share of spending going to older homeowners who are more financially capable to pay for renovations.
These projects are a great way to improve the look and feel of your home. In addition, they can help you get the most value for your home when you are ready to sell it.
Some of these projects, such as painting and re-grouting tile, will not add much value to your home. However, others, such as adding new windows, can significantly increase your home’s value and appeal.
It is a very large and growing industry that includes the sale of building materials, appliances and decor, as well as the services provided by contractors and other tradespeople. The home improvement industry has grown more than 50 percent in the United States since 2010 and is expected to keep gaining momentum in years to come.