Home improvement is a multibillion-dollar industry that encompasses the supply of building materials, appliances and decor, as well as the services provided by contractors, tradespeople and others to renovate or improve homes. Home improvement has achieved excellent growth results in recent years, fueled by homeowners seeking to upgrade their dwellings during the COVID-19 pandemic. Its revenue is projected to continue to increase in 2023, despite a slowdown in new construction.
A homeowner can find a wide range of ways to finance a home improvement project, from personal loans and credit cards to home equity lines of credit. It is important to determine the feasibility of a project before investing too much time and money, however, as many projects are not worth the effort or expense. Unless you have unlimited cash available, it is best to plan and budget for your project, in order to avoid overspending or taking on debt that will reduce the value of your home.
Often, a few simple home improvements can add real value to your property. A fresh coat of paint or a landscaped walkway are easy ways to boost curb appeal, while re-grouting tile and power washing the exterior are cost effective projects that can make a big difference in how your home looks. Adding window treatments, replacing dated cabinet hardware and refinishing old furniture are also low-cost ways to upgrade your home’s interior.
If you’re planning to sell your home in the near future, these projects can help you get top dollar when it comes time to put the house on the market. And if you’re not planning to move, these projects can enhance your daily living experience, too.
When choosing a contractor to complete your home improvement project, it’s best to select one with experience and a proven track record. Look for certifications, licensing and business references before hiring anyone. An online search can provide you with a list of reputable contractors in your area. Some companies even offer a service that bundles several different types of home improvement projects and acts as an intermediary agency between the providers and homeowners.
Whether you’re planning a major renovation or a small DIY job, these tips will help you complete your project with ease and success. Before you start, make a list of non-negotiables and determine what is most important to you and your home. For example, if a project will save you money in the long run or prevent costly damage in the future, it might be worth the extra investment. Also, be sure to have all the necessary supplies on hand before you begin, and don’t forget to store pesky screws and nails in repurposed spice bottles or mason jars. Then, enjoy your newly improved space!
