Home Improvement Trends
Home improvement is the process of making improvements to a house. This includes interior and exterior renovations as well as other projects that make the home more pleasant and functional to live in, such as landscaping, adding decks or patios, and making electrical upgrades. This industry also includes the sale of building materials, appliances, decor and the services of contractors, designers and other workers.
Homeowners are increasingly investing in their homes, and they’re doing so for a variety of reasons. Many homeowners are focused on improving their home’s resale value, while others are looking to increase the comfort and functionality of their living space. Whatever the motivation, the home improvement market has seen solid growth in recent years.
In 2021, more than half of homeowners renovated their homes, and that trend is expected to hold steady in 2022. But not all home improvement projects are created equal when it comes to cost recovery and homeowner happiness.
The best home improvement projects are those that deliver the highest return on investment and improve a home’s overall function while you’re living in it. To that end, it’s important to find a balance between your goals, the costs of the project and the benefits you’ll receive from the renovation.
Choosing the right contractors can be one of the most challenging aspects of any home improvement project. While it’s tempting to choose the flashiest options or go with a contractor recommended by friends and family, you should focus on finding a professional that you can trust. Look for a contractor with experience, excellent reviews and references from past clients. You can also check a remodeler’s credentials and licensing status with your state’s contractor registry.
It’s also wise to consider the cost of financing a renovation and factor in any potential monthly payment into your budget. If you’re planning to use a mortgage to pay for your project, it’s best to apply online now to get matched with a lender that works for you.
If you’re renovating with an eye towards selling in the future, it’s also a good idea to seek the advice of a real estate pro before you start on any high-end improvements. This will help you avoid overcapitalizing, which can make your property less desirable for potential buyers.
The most popular home improvement projects tend to fall into the category of kitchen and bath updates. These include installing new cabinets, appliances and countertops, and laying tile or adding fixtures. In general, opt for midrange finishes rather than high-end ones. While they may not offer as much resale value, they’ll be more affordable in the long run.