Home improvement can be a great way to add value to your property and make your house feel more comfortable. But it’s important to plan your projects carefully and only choose upgrades that will be a good fit for your house and lifestyle. It’s also a good idea to get professional advice before starting any work. And remember, no matter how tempting it might be to use credit to fund your project, debt is never a good idea.

Homeowners are spending more on improvements than ever before, according to a new report from the Harvard Joint Center for Housing Studies. The increase is due to a combination of factors including rock-bottom interest rates, which make improving your home an affordable investment, and the fact that many homeowners who are planning renovations are focusing on projects that will improve their quality of life and comfort at home.

The most popular home improvement projects involve updating or repairing bathrooms and kitchens, putting in new flooring or carpeting, adding new fixtures or appliances, painting, refinishing woodwork or cabinets, and extending living space with an addition. These updates are simple and cost-effective, and will increase the efficiency of your household.

Another common home improvement project involves replacing or refinishing old wood furniture, such as chairs and tables. This can be a time-consuming but rewarding project that can add lasting beauty and value to your home.

According to the report, about one in five homeowners have planned to undertake a home improvement project in the next two years. The most common reasons cited by homeowners for undertaking these projects include:

Some of the most significant improvements are those that will help to boost your home’s resale value. However, it’s important to consider your local market and the price range of houses nearby when making such improvements. For example, if you live in a neighborhood where most houses are priced similarly, it’s unlikely that your house will attract more buyers if you spend a lot of money upgrading it to a level that’s well above the average for the area.