Home improvement is a huge industry. It includes companies that manufacture building materials, appliances and decor, as well as those that offer services like contractors and tradespeople. It’s also an important part of the economy, as it provides jobs to many people and helps keep homeowners happy with their living spaces.
Over the two-year period covered by the 2021 American Housing Survey, Americans undertook 135 million home improvement projects and spent an estimated $624 billion on them. That’s an increase of about 100 billion dollars over just a decade. While inflation is a factor, there are other reasons for the spike in home improvement projects. For one, the pandemic inspired some people to upgrade their homes. But it wasn’t the only reason: Homeowners also saw value in renovating their properties, with a majority of those surveyed citing greater satisfaction with their homes as motivation.
When deciding on which upgrades are worth the cost, it’s helpful to think about what will make your house more appealing to potential buyers. For example, a lot of people focus on updating bathrooms and kitchens. However, those changes may not be enough to increase your home’s resale value. Adding an extra bathroom or great room could be a better way to add function and value.
Another popular way to increase your home’s resale appeal is to improve its energy efficiency. Adding new windows, a heat pump or additional insulation will decrease your energy costs and pay for themselves over time. It’s also a selling point for many prospective home buyers.
There are also plenty of smaller upgrades that can add value to your home, including painting your exterior and updating your landscaping. Those are both easy ways to make your house look fresh and modern, while adding curb appeal. It’s always a good idea to stay within your budget, though. Otherwise, you might end up spending more than you can afford to – and it’s never a good thing to put yourself in debt for your home improvement.
Finally, don’t forget to practice safe work habits during a home improvement project. This means wearing protective gear, checking out professional references before hiring a contractor and using caution when working with electrical or plumbing projects. It’s also a good idea to have a plan for the project before beginning it. This will help avoid any surprises and ensure that the project is completed on time and within your budget. Getting help from a reputable professional can make the whole process much easier and more enjoyable. They will be able to give you advice and recommendations about what will be best for your home. They’ll also have the tools and experience to make your home improvement project run smoothly. They can save you a lot of stress, headaches and money in the long run. In addition, they can protect you from any legal liability that may arise during the project. The most reputable companies will be licensed and insured, and they’ll be members of a trade association or accredited by a professional organization.