Many people get confused between home improvement and home repair. Home repair refers to addressing problems in your home that need to be fixed. Repairs may range from installing a new faucet in the bathroom, replacing the old kitchen stove, to replacing your electrical panel.

Even though many home repairs are “do it yourself”, some of them may require you to call in the professionals (like replacing the old stove and certainly your home’s electrical panel!).

Home improvement on the other hand refers to bettering your home, adding value to your home above and beyond repairing what is there now. This may mean adding on to your home and/or significantly upgrading its current look. 
Often this is also referred to as remodeling. Common remodeling projects include adding an addition to the home (like another bedroom or a second story), remodeling the kitchen or bathroom, adding decking to the home and so forth.

Another way of thinking about repair versus improvement is the long term benefit associated with it. A basic home repair will give you peace of mind and restore something back to its original function and use. In general it will not add significantly to the value of your home.

A properly select home improvement project, on the other hand, will not only increase your enjoyment of the home but also add to its resale value. Bathroom and kitchen remodels are estimated to give you the highest return on investment (up to 90%). You may also qualify for some tax benefits due to your remodeling efforts, check with your tax professional!

Remodeling costs can be quite steep, hence establishing clear objectives and a budget prior to getting started will go a long way. Sticking to your budget also becomes so very crucial!

Many people find themselves going way over the original projected costs because they freely make changes mid project. At times changes may be necessary, but often they could have been avoided by thinking through the entire project before getting started.

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