Home improvement is a popular pastime for many Americans. In fact, in the 2021 period covered by the Census Bureau’s American Housing Survey, homeowners spent a whopping $624 billion on projects that improved their homes. But what’s behind this trend? And, how can you make sure your home renovations add value to your property?
The home improvement projects that are surging the most have to do with work outside the house. Deck construction is up by a whopping 275%, while hiring landscapers to build gardens or put up fences has seen a similar increase. According to a recent report by the National Association of Landscape Professionals, this could be due to a combination of factors.
First of all, it’s important to assess your budget before you start a project. If you’re not ready to commit a lot of money upfront, research financing options and compare rates and qualification requirements before making any decisions. You can also try to save up for the project by setting aside funds or reducing spending on other items in your budget to free up cash.
It’s important to keep up with regular home maintenance, especially to keep your property in good shape and prevent small problems from becoming major issues that cost you more time and money to fix. You can also improve the overall look of your property by painting rooms, repairing cracks in walls and ceilings and replacing worn carpeting.
Some home improvements will help you sell your house, while others won’t. To avoid losing money on a project, you should focus on those that will have the greatest return on investment. For example, adding an extra bedroom and bathroom will likely improve your property’s resale value more than remodeling your kitchen or installing new windows.
If you’re looking for inspiration for your next home improvement project, the internet is a treasure trove of information and resources. Websites like Pinterest and Houzz are great places to find ideas, while blogs and social media channels are a wonderful way to share your progress. And don’t forget to consult with a professional before you start any big work.
Home improvement projects can be expensive, but they’re often well worth the expense. Not only will they make your home more comfortable and safe, but they can also boost your happiness with your property. And who doesn’t want that?
As rising prices and sluggish sales continue to impact the housing market, it’s expected that homeowners will scale back on costly renovation projects in 2024. But, despite some challenges, it seems that homeowners will continue to spruce up their property in their own unique ways.