Home improvement is the process of making repairs, upgrades, renovations or additions to your home. It can include adding features like a new bathroom or kitchen, repairing a roof, or changing a flooring color. It can also involve building an entire addition to your house, such as a deck or porch.
If you’re a homeowner, chances are you’re constantly looking for ways to improve your home. Whether you’re planning a major remodeling job or just want to freshen up the inside of your home, there are plenty of projects that can be done on a budget.
One way to get started is by checking out what other homeowners have done in your area. This will give you an idea of what types of improvements can help boost your home’s value and appeal to potential buyers.
Another great option is to take advantage of home equity loans. These are typically repaid over 5 to 30 year terms via fixed monthly payments. They can be a convenient solution for minor upgrades or large-scale renovations, but it’s important to consider your credit before taking out this type of loan.
You can also finance your home improvement project with a credit card, as long as you can afford to pay off the full amount each month. Many cards offer introductory 0% APR periods on purchases.
Despite the soaring cost of some home projects, home improvement remains a popular hobby among homeowners. In fact, according to the latest American Housing Survey, spending on home repair and improvement has doubled in just a decade, growing from $1.2 trillion in 2013 to $624 billion in 2021.
Homeowners are planning a variety of different projects for the coming year, with some targeting specific areas and others focused on fixing existing issues that may be holding their homes back. Drafty windows and doors, uneven heating and cooling, and outdated HVAC systems are all common home issues that homeowners plan to address this year.
A majority of homeowners (57%) say they are focusing on projects that can increase the value of their homes. In addition, 47% are looking to make their homes more efficient and easier to maintain.
The most important factor when deciding what project to tackle is how it will impact your life. For example, if you’re going to remodel your bathroom, you’ll need to consider how it will affect your daily routine.
If you’re aiming to increase your property’s resale value, it’s also important to make sure that the improvements you plan will enhance the aesthetics of your home. You’ll also want to ensure that the work will be done by a licensed contractor.
You should always perform a background check on any contractor you are considering hiring to work in your home. This will ensure that you’re dealing with a reputable business and will reduce your risk of being cheated out of money.
The home improvement market is a very competitive industry, and there are many unscrupulous people out there that are trying to take advantage of unsuspecting homeowners. The best way to avoid this is to only use a licensed contractor. This will ensure that you are working with a professional who is familiar with all of the requirements and laws surrounding your state and county.