The number of renovations that are done to existing homes is tied directly to the health of the real estate market. The more homes are bought and sold, the higher the demand of contractors to do renovations on these properties in an attempt doing two things. The first might be a homebuyer who just wants to update the property for them to live in. Popular renovations would be kitchens, bathrooms or even simply a coat of paint. There are others who choose to do renovations solely for the purpose of increasing the value of the property. The home cannot be resold for profit and the extra funds used to buy bigger better home.