A complete home renovation is a process of completely transforming the structure and design of a house. This is in contrast to a partial renovation, which only improves the appearance of certain parts of the house. Renovation involves altering an installation or one or more components of the installation, including removing or replacing the RACM from a component of the installation. Demolitions, on the other hand, involve destroying or removing the structural elements that support the load.
In a renovation, the basic layout of a house remains the same, but repairs and upgrades are made. This may include painting, installing new floors, and changing items such as cabinet knobs and faucets. If any rotting wood elements are discovered, they will be removed and the area (wall, subfloor, or ceiling) will be rebuilt with new wood. Construction in progress refers to any property that (a) is newly built or (b) is undergoing renovation, in which (i) more than thirty percent (30%) of the square footage of that property is not available for occupancy due to the renovation and (ii) no rent is paid for those square feet.
Renovations usually cost less than remodeling projects and often provide homeowners with a better return on investment when they sell their home.