Home improvement is the process of renovating or making additions to one’s home. This can include projects like installing a new kitchen, bath, or bedroom, landscaping the yard, or building a fence. It may also refer to repairing, replacing or upgrading appliances or other components of the home such as heating, ventilation and air conditioning (HVAC) systems.
The home improvement industry has reached excellent growth results in recent years. Especially during the COVID-19 pandemic, more and more people focused on improving their homes and found satisfaction in doing so. The industry includes the sale of building materials and other products used for renovations, as well as hiring contractors or completing the work yourself (DIY).
Many home improvements are designed to increase resale value. However, it is important to weigh the costs and benefits of any project before you start. It is also crucial to hire a qualified professional for any major projects that require permits or are time consuming.
Be sure to get any contracts for home improvement work in writing and read them carefully. A good contract will contain an estimated completion date, a payment schedule and details of any warranties on materials and workmanship. By law, contractors are not permitted to accept more than 1/3 of the total contract price as a deposit and may withhold final payment until the work is complete and all inspections and certificates of occupancy are issued. For your protection, it is recommended that you only use contractors who have their name, address and MHIC license number preprinted on the contract.