Home improvement refers to a range of activities that homeowners or businesses undertake in an effort to make improvements and repairs to their homes. The term may also be applied to a specific room or area in the home, such as a kitchen or bathroom. Some popular home improvement projects include painting, laying new flooring, installing new light fixtures and adding an extra bedroom or bath to the house.

While the COVID-19 pandemic has been a major spur for home renovation, it is not the only reason. Many homeowners are eager to improve their homes as a result of aging, changing tastes, or just wanting to live in a more comfortable setting. In a survey, the National Association of Realtors found that 84% of homeowners reported increased satisfaction with their homes following an upgrade.

In addition to the cost of materials, another significant consideration is the amount of money that a home improvement project will return on investment. This figure is typically calculated as a percentage of the project’s overall costs, and it can vary from more than 100 percent to just 20 percent.

The most common home improvement projects that offer a good return on investment are kitchen and bathroom remodels, exterior paint jobs and garage door replacements. However, it is important to remember that even small projects like replacing worn doorknobs or cleaning rain gutters can add value if they are done well. It is also a good idea to get multiple estimates from contractors before beginning a project, and to make sure that any contractor is properly licensed and insured.