I do it pretty regularly. Just small changes to decor literally all the time, every few Sim days I'll tweak this or that just for a change of look.
Entire renovations to rooms or even entire floors also happen pretty much every time there's a change to the household, be it a change in the age of children or the career/skill activity of an adult.
Toddler ages up to child, for example, their room gets an entire renovation in furniture and decor and any area that were set up with toddler activities gets a full renovation with child stuff in it's place. The same happens when a child ages to Teen, or when any adult makes a change in their career/skill.
I don't generally live on giant lots with massive houses, so renovations are needed when anything changes in terms of what kind of 'stuff' I need available in the house and it's just a good excuse for redoing decor along with it.
