Home Improvement Is a Broad Category That Can Entail Anything From Painting to Building a Deck Or Fence
Home improvement is a broad category that can encompass anything from painting and resurfacing your driveway to building a deck or fence. Typically, the materials cost for home improvement are tax-exempt in New York if you can prove that your project is considered a capital improvement by filing with the department of taxation and finance. However, labor is taxable and that’s something you need to check with your CPA.
For homeowners that are coping with rising inflation, a smaller home improvement project may be more feasible than a major remodel. Adding a fresh coat of paint to the exterior or interior of your house can drastically change its appearance and is a fairly inexpensive home improvement. Another option is to switch out light fixtures. Swapping out old frosted glass pendants for contemporary Edison bulbs in the kitchen or hanging a chandelier over the master bedroom can add an immediate and dramatic upgrade to your home.
After World War II, returning servicemen embraced home improvement projects as a way to rebuild their family lives and regain the sense of security they had lost during the conflict. Government mortgage insurance programs encouraged home buying and construction, and the suburban lifestyle was born.
Even in unsettling economic times, homeowners are still eager to make improvements to their houses. Anderson says the categories of home improvement surging most strongly are those that involve work outside the home, such as landscaping and deck or fence construction.