The Home Improvement Market Continues to Grow
Home improvement is the process of renovating or repairing the interior or exterior of a home. This includes changing the layout of rooms, adding or removing walls, replacing windows and doors, sanding and staining floors and installing new cabinets, countertops, sinks and fixtures. It also includes painting, carpeting, landscaping and other projects to make a house more comfortable and attractive. The home improvement industry is comprised of retailers selling building materials, appliances and decor for home renovations, as well as contractors, tradespeople and laborers who perform these improvements. The market has experienced solid growth results in recent years, largely due to rising consumer demand for improved energy efficiency, security and aesthetics of the home.
In an unsettling economy, consumers will continue to spend money on home improvements, especially those that increase the value of their homes. Experts say that kitchen and bathroom upgrades will remain popular, as well as projects to make a home more functional for modern lifestyles.
Many homeowners will tackle home improvement projects on a budget, using creativity to maximize impact and minimize cost. For example, a few dollars can go a long way with simple DIY storage solutions, such as repurposing spice containers or mason jars for small tools and supplies. These easy, low-cost updates can give a room a facelift and make it more user-friendly.
Major home improvement projects that have the best chance of increasing a property’s resale value include adding bathrooms and bedrooms, remodeling kitchens, converting attics and basements to living space, and building decks and fences. Regardless of the scope of the project, it is important to hire licensed and insured contractors to ensure that the work complies with local building codes and is done correctly.
A well-maintained property is an important component of any home, and simple landscaping tasks can greatly improve a curb appeal. The addition of flowers, shrubs and trees can create a welcoming entryway for guests, while regularly mowing the lawn and weeding the garden will maintain a neat appearance. It’s also a good idea to remove any unsightly bushes and overgrowth, and replace worn garden tools.
Home improvement shows have become an enduring part of television, with some becoming cultural touchstones. For example, Tim Allen’s character, Randy Taylor, became a household name through the hit series Home Improvement, which ran from 1991 to 1999. The cast of the show reunited in 2003 for a TV special, Tim Allen Presents: A User’s Guide to Home Improvement, featuring favorite clips from the series, behind-the-scenes stories, tips and blooper footage. The show’s theme song, an early 1960s-style saxophone-dominated instrumental rock tune called “Tool Time,” remains popular to this day.