What Is Home Improvement?
Home improvement, or remodeling, is the process of improving or repairing the interior and exterior of a house. The term can also refer to a specific room or area of the home, such as a kitchen, bathroom or basement. Other examples of home improvement are installing new flooring, painting or replacing windows and doors.
A home is often seen as a place of refuge and stability, and many people want to improve it to make it more comfortable. However, many renovation projects end up costing more than they add in value to the home, and can even put homeowners into debt. In addition, some renovations require professional help that can be expensive.
Despite these potential problems, many homeowners are still planning home improvements. The most popular home improvements in 2022 include refinishing floors, upgrading insulation, converting a basement into living space and renovating closets. However, not all of these projects are necessary to increase the home’s resale value.
Home improvements can be made to any residential building, including houses, apartment buildings, garages, gazebos and fences. However, the term home improvement does not apply to the construction or repair of commercial buildings. In general, the materials used in home improvement are not tax-exempt unless the contractor has documentation that the project meets the definition of a capital improvement. This can be obtained by submitting a Certificate of Capital Improvement. This is required in the state of New York for any construction or repair work on homes and rental properties.