The Benefits of Home Improvement

Categories : Gembing

Home improvement

The home improvement industry continues to grow. The sector includes construction materials, appliances, decor, and tradespeople. It accounts for a significant portion of the world economy. It is also popular in western societies, which value attractive, functional homes. A recent survey by marketing firm Axiom found that over half of the respondents aged 19-55 plan to perform a home improvement project on their own.

Depending on the project, a person may choose to make minor changes in their home or renovate their entire house. For example, if a person plans to sell their home, they may choose to make some changes to the interior of the home. This can be as simple as buying new furniture, or as complex as remodeling a bathroom.

A home improvement project can increase the value of your home. A single room can add 1% to 3% to a home’s value, while a whole house improvement can add 2% to 5%. The average return on investment is between 80 percent and 90 percent after one year. If you are planning to sell your home in the future, however, you should wait until the value of your home increases.

Many home improvement projects are tax deductible, including energy-efficient upgrades. If the project is for a business, you can even claim a tax credit for the work. If you have questions about whether or not your project qualifies, seek the advice of a tax professional. They will be able to assess your project and help you document the expense accurately.