Home improvement is the term used to define the changes that are made to a house that increase its value. For example modernizing a kitchen or adding a second bathroom to a three-bedroom home. Thus, anything that includes repairing, remodeling, altering, converting, modernizing or adding to residential property will be classified as improvement to the home. Home improvement typically means improvement to the home and its surroundings by the owner himself/ herself.
Constituents of improvement
Examples of home improvement are the construction, replacement or improvement of:
- driveways, swimming pools, including spas and hot tubs;
- terraces, patios, awnings, gazebos, storm windows;
- landscaping, fences, kitchens, baths;
- porches, garages, basements; and,
- other structural improvements.
Then again installation of a sprinkler system is improvement, lawn mowing is not, installing a carpet is, while steam cleaning a carpet is not, building a pool is and cleaning a pool is not.
Home improvement Vs home repair
People often get confused between home improvement and home repair; they are both different from each other. Home repair is basically finding problems then fixing them. It is something one does to arrest the decay of their property and to keep a check on the damage that may have been done through neglect. Therefore, repainting, any sort of fixing, repairing leaks, and replacing broken fixtures constitute home repairs. Most repairs are DIY kind of things but sometimes, just occasionally home owners need to call in the professionals. Home improvement on the other hand is bettering their home, adding new things to it, changing its style or just adding a bit of a character to it.
Home improvement constitutes a capital expense, wherein the home owner would be spending a heavy amount and since it is once in a lifetime affair they might, in all probability, need a loan.
When people embark on a home improvement project they more often than not draw up a financial plan to save them money or else they are likely to spend much more than required.