Home improvement, also known as remodeling or renovation, is a term that encompasses any work carried out to enhance or improve a home. Some projects are done for personal preference, comfort, maintenance or repair; others can be designed to increase a home’s value and safety.
Aesthetics are important for homeowners to consider when planning a home improvement project. Whether the project involves painting, roofing, flooring or carpeting, aesthetics play an important role in keeping the job on track and giving the home an attractive appearance.
Cost is a major concern for many home owners when it comes to tackling a home improvement project. This is primarily due to the high cost of materials, labor and supplies.
Time is another significant factor in a home improvement project. Some homeowners may not have the time or ability to complete a project without professional assistance.
Other concerns include the availability of qualified professionals and issues with supply chains. These problems can make it hard to meet a home improvement goal on time and on budget.
Home improvement spending has been growing steadily in recent years, driven by three factors. The home construction and renovation industry is a thriving business in the United States. It is estimated that there is over $400 billion in annual revenue in the home improvement and remodeling sector. It is expected to reach $510 billion by 2024. The growing economy and rising homeowner equity are driving consumers to improve their homes.