Home improvement refers to any type of remodeling, repair or renovation to a residential or non-commercial dwelling or its appendages or structures. It also includes the addition of a deck or patio, landscaping or gardening, the installation of insulation or fire-protection devices, and the construction of fences, porches or garages.

According to a 2024 report by Green Wave Distribution, many homeowners are now focused on making their homes more energy efficient. This may include upgrading to more environmentally friendly appliances, installing additional insulation and sealing air leaks. These projects can help lower energy bills and increase a home’s resale value.

The home improvement industry has seen a boom over the past three years, according to Houzz research. Homeowners have become more invested in improving their living spaces and are willing to spend more on renovations than before the pandemic.

But not all home improvements are created equal, and many do not recoup their full costs at the time of sale. It is important to understand the return on investment for any project before starting work.

It’s easy to get caught up in the excitement of a home improvement project and overspend. That’s why it’s essential to establish a budget and stick to it. It’s also a good idea to talk to a real estate agent about the changes you plan to make before committing to them.

If you’re not careful, you could end up with a home that’s too expensive for your neighborhood or you might even go into debt. It’s always a good idea to pay cash for home improvements and avoid going into debt, especially since you don’t own the improvements—the bank does.

Depending on the market, your local laws and your own personal taste, some home improvements may not add much value to your home. For example, adding a pool or a high-end fountain to your yard might not appeal to buyers in a family-oriented community.

A few well-chosen, low-cost home decorating projects can add a fresh look to any room without breaking the bank. Painting walls, replacing carpet and sanding down old wood surfaces can be inexpensive ways to improve a room’s ambiance and create a welcoming atmosphere.

Many home owners believe that a well-kept lawn and beautiful landscaping will add to the value of their property. However, this is not necessarily true. Some landscapers can overdo it, which might turn off potential buyers. It is best to stay in the middle ground by keeping your lawn and trees trimmed and putting in some colorful flower beds. This will make your house look more inviting and will attract the attention of potential buyers. In order to maximize your resale value, you should always consult with a real estate agent before making any major landscaping changes. This will ensure that you’re getting the most bang for your buck. They can tell you what changes will pay off and which ones are not worth the expense.