Home improvement is an ongoing process of making changes to a house to improve its aesthetic, functionality or safety. Some projects are minor, such as painting or installing new flooring, while others may be more significant, like adding a kitchen, bathroom or bedroom. A homeowner can complete home improvement projects themselves or hire professionals to do the work for them.

During the pandemic, renovation spending increased, but it seems that homeowners are now putting more projects on hold. Lowe’s and Home Depot reported that they are seeing fewer homeowners buying kitchen appliances and cabinets, and that shoppers are also less ambitious about tackling DIY projects. Despite these signs, the home renovation industry is still strong.

While home improvement projects may add value to a house, it is important for homeowners to consider the return on investment before taking on any upgrades. It is a good idea to consult with a real estate professional to learn what upgrades are worth the cost. In general, mid-range upgrades like a new kitchen or bathrooms will likely provide the best resale value.

When hiring a contractor to complete home improvement projects, be sure to choose someone who is licensed and insured. In addition, you should make sure that the contractor is reputable and has an established track record. A contract should be signed that includes a timeline for when the project will be completed, a payment schedule and as many specifics about the work as possible (such as brands or types of materials). If you are financing your home improvement project, a loan from a bank or credit union may be an option.