Home Improvement Trends in 2022

The home improvement industry has experienced excellent growth results in recent years. It encompasses the sale of building materials, appliances and decor to consumers as well as the services provided by contractors, tradespeople and others who improve or renovate homes.

According to the National Association of Realtors, 2022 saw a record number of homeowners undertake renovations, with 83% of those surveyed saying they did so because they were either upgrading worn surfaces and finishes (25%) or adding features and improving livability (21%). Other reasons included increasing their enjoyment of their home (16%) and having a sense of accomplishment once their project was completed (39%).

Whether you’re looking to add value to your house or make it more comfortable to live in, there are many ways to update your home. The most popular projects include installing a new kitchen, bathroom or bedroom. However, some upgrades are less expensive and still add significant value to your home. For example, re-grouting tile, painting and power washing your exterior are all relatively inexpensive projects that can make your home more attractive to potential buyers.

Another way to increase your home’s value is by making it more energy-efficient. Installing new windows, a heat pump or adding insulation are just a few of the ways you can decrease your energy bill and save money over time. This upgrade is also a selling point to prospective buyers and can make your home more environmentally friendly.

When it comes to remodeling your home, you should always hire a licensed and insured contractor. New York State law requires a contractor to provide you with a written contract that includes a timeline for work to be completed and a payment schedule. It should also include as much detail about the project as possible, including specific types or brands of materials to be used. It is also a good idea to get references and check them before hiring a contractor.

If you’re planning a big renovation, it’s important to sit down and create a budget before starting any work. Consider what your goals are for the home and how long you plan to live there, and then find out how much it will cost to achieve those goals. If you’re worried about costs, consider obtaining a loan or home equity line of credit with an affordable interest rate.

While some home improvements may be able to wait until after you’re ready to sell, others are more urgent and should be done sooner rather than later. For example, electrical problems, roof leaks and a cracked foundation are issues that should be addressed as soon as you notice them. Putting off these repairs can lead to more costly and complex problems down the road. By addressing them as soon as you notice them, you can avoid bigger issues and keep your family safe and happy in your home for as long as you’re there.