Home improvement is the process of renovating or making additions to one’s home. It is considered an investment in both the home and the community, as it raises neighborhood standards and, in turn, helps to increase property values. It can also improve the comfort and safety of the home’s inhabitants. It can be done for a variety of reasons, including to make the house more aesthetically pleasing or fit in with the style and needs of the homeowner.

Homeowners’ interest in home improvement is back, and while fewer are planning major renovations in 2024 than in 2020, many still want to upgrade their homes. They’re still seeking the satisfaction and security that comes with a well-maintained and improved living space, even in these unsettling times.

A few factors may be influencing the revival in home improvements. For one, rock-bottom interest rates continue to make borrowing for projects like a kitchen remodel less expensive than paying off debt or dipping into savings. The other is that Covid-19 has forced homeowners to spend more time at home and, therefore, feel compelled to make their living spaces comfortable and inviting.

And while the return on investment for most home improvements can vary widely, they can offer a good way to get some value out of your home while still enjoying it. When choosing a contractor to handle any home improvements, it is important to hire licensed and insured professionals. In New York, licensed contractors are required to provide a contract that includes a payment schedule and details the work to be performed, including materials to be used.