Home improvement is any renovation, addition or repair that improves the overall function of a home. Often, it’s done with an eye to selling the house in the future, but there are also plenty of projects that will only make life more pleasant for current residents.

The good news is that spending on home improvements has surged this year, with homeowners taking on an estimated 115 million projects during the past two years, according to data from the American Housing Survey. That’s a $72 billion increase compared with the previous two-year period.

While the most popular projects are bathroom and kitchen remodels, deck construction, fence construction and other exterior work also ranked high on the list of surging improvements. Anderson notes that rock-bottom interest rates and an aging housing stock have helped fuel the surge in activity.

Depending on the project, some homeowners have seen an excellent return on their investment. Others haven’t, and some might not be able to recoup their costs at all. It’s important to talk to a real estate agent before starting any work so you can get an idea of the expected value of your property.

The most common way homeowners fund their home improvements is through cash from savings. However, the survey respondents who chose “something else” for 6% of projects likely included sources like cash-out refinancing, home equity loans, contractor arranged financing and credit cards.