Home improvement is a broad category that covers a wide range of projects, from small upgrades to major renovations. These projects can add value to your house, increase the livability of your home and improve its safety.
The Home Improvement Market is growing rapidly
A recent survey found that nearly 90% of homeowners plan to spend as much or more time on home improvement projects in 2021 compared to last year. The surge is driven by a variety of factors, including a shortage of new housing construction and a growing population of older homeowners who are financially equipped to pay for renovations.
The Most Popular Home Improvement Projects
A fresh coat of paint, or a full-scale remodel of your kitchen, can make a dramatic difference in the way your home looks and feels. It can also boost your resale value and the amount of money you get back when you sell.
Some improvements have a higher ROI than others, however, so it’s important to choose the ones that will give you the best return on your investment. Typically, home improvement projects that involve structural changes, updating the mechanicals and improving core areas (kitchens and bathrooms) will have the highest returns.
Increasing Energy Efficiency:
It’s also a good idea to consider improvements that can help you save money on utility bills. Examples include replacing old windows, installing energy-efficient appliances and adding insulation. In addition, some energy-saving home improvements qualify for tax credits.