Home improvement, also known as home renovation or remodeling, is the process of renovating or making additions to one’s living space. This may include the interior and exterior of a house, or work on one’s yard or garden. Home improvements can be carried out for a variety of reasons; personal preferences, maintenance needs, to increase energy efficiency, or simply to upgrade one’s living space.
A home improvement project is typically a major undertaking, often involving structural changes and modifications to the building. This includes the installation of new appliances, lighting fixtures, carpeting and flooring, painting and decorating. Some projects have a significant effect on the appearance of the home and can add to its value. Other projects have a more practical effect, such as adding or repairing rooms or installing safety features.
It is not always possible to determine the exact cost of a home improvement project until after the work has been completed and the contract is signed. However, homeowners should do their homework before hiring a contractor. Ask for references and speak directly with former customers. Then, make sure the contractor is licensed by the state of New York (see below). Homeowners should never pay more than 1/3 of the contract amount as a deposit and should withhold final payment until all necessary inspections and certificates of occupancy are in place.
In a typical home improvement project, the homeowner hires a general contractor or other specialist to carry out the work. The cost of the project is often determined by the scope of the work and the level of skill required.
If the project is to be carried out over a period of time, a contract will usually be agreed upon between the contractor and the homeowner that outlines a schedule for payments to be made. It should contain a detailed description of the work to be performed, as well as materials to be used and their approximate cost. On large projects, a contractor may prepare an architect or engineer plan specifying virtually every detail of the construction.
Many millennials say they plan to do some home improvement this year, a new survey shows. The majority of these projects will be DIY jobs, with 57 percent of respondents saying they plan to tackle at least one project themselves, Axiom reports.
Some home improvements might not boost your property’s resale value, such as projects that are too personalized or that go beyond the tastes of the average buyer. However, you can get a high return on investment with simple cosmetic fixes, such as updating your kitchen or bathroom. You should consult with a real estate agent to learn which renovations are likely to add value to your home and which ones not to bother with. A good Realtor can also help you choose the right contractors for your job. He or she will be able to tell you which contractors are reputable and reliable, and who is likely to overcharge for their services.