Home improvement is a popular activity for homeowners, often times involving the replacement or repair of existing items. The home improvement industry has experienced steady growth in recent years, largely due to improved economic conditions and rising homeownership rates. This industry includes the sale of building materials, appliances and decor for the home, as well as the provision of services by contractors and tradespeople.
A homeowner may decide to do some home improvement for the sake of aesthetics, or in order to increase the utility and value of his home. Many projects are very simple and inexpensive, while others are more complex and costly. For example, adding an extra bedroom or bathroom to a house is a common home improvement project that can significantly increase the property value of a home. However, the cost of the new addition can be significant, and the homeowner must weigh these costs against the potential increase in property value.
In addition, a homeowner should be aware of how his home improvement projects could affect his taxes. Generally, home improvements that involve the installation of heating or cooling systems, plumbing or electrical work are considered capital expenditures. These expenses are tax deductible. However, some renovations that are considered non-capital expenditures such as paint, curtains and wallpaper are not tax deductible.
Another important aspect of home improvement is safety. Any project that involves working on electricity or plumbing should be undertaken only by a qualified professional. It is also a good idea to have a plan for the safe disposal of hazardous materials such as paint, batteries and used motor oil.
If you are considering a major home improvement project, it is a good idea to consult with an interior designer for ideas and advice. An hour-long consultation with a local designer will usually cost less than $100, and it can make all the difference in your finished project and in whether you get a good return on your investment.
The home improvement industry is a multi-billion dollar business that includes the sales of building materials, appliances and decor, as well as the provision of services by skilled contractors and tradespeople. The industry has seen solid growth in recent years, and is expected to continue growing. Some of this growth can be attributed to improved economic conditions and an increased number of homeowners seeking to improve their homes in order to increase their home’s value and functionality.
One of the most important aspects of home improvement is curb appeal. A buyer’s first impression of your home will be based on the yard and exterior appearance. A freshly painted front door, a mowed lawn and some flower beds can make a huge difference in how your home looks. In addition, any dead shrubbery or overgrown areas should be removed. Also, a fresh coat of paint can make your whole house look brand-new. When choosing colors, be sure to stick with neutrals such as beige or gray.