One of the most popular ways to improve the value of your home is to do some home improvement. In fact, a survey conducted by Axiom, a Minneapolis marketing firm, found that a majority of consumers are planning to spend money on this type of project in 2021. This includes the usual suspects like replacing windows and siding. However, the survey also found that consumers are looking for more innovative and creative solutions to their problem.
According to the survey, homeowners are planning to do their home improvements in a big way. More than half of all respondents say they’ll hire a professional for a portion or all of their projects. The largest number of DIYers (about 57 percent) say they’ll take on a project of their own.
If you’re planning a major renovation, consider the home equity line of credit. These loans are essentially a second mortgage, but they can be a great source of cash for the home improvement project of your dreams. As long as you can meet the requirements, a home equity line of credit can allow you to pay for a multitude of home repair and maintenance tasks.
Another major trend in home remodeling is the increase in private label retailers. These companies are entering the market in droves, which is bringing about increased competition. Among the major vendors, premiumization is a key factor, as well as differentiation.
When it comes to improving the value of your home, it’s also important to consider resale value. For example, a new front door is an inexpensive way to make your house look more upscale. On the other hand, a brand new, high-end kitchen range won’t do much for your resale price.
Aside from upgrading your home’s resale value, you can boost your property’s energy efficiency and safety. Installing new windows can cut down on energy costs, while a fence can prevent theft. Adding a room addition or a finished basement can make your house more liveable.
Other home improvement projects are more practical, such as landscaping or adding a new deck. A kitchen island can provide extra counter space and storage, while a kitchen pantry can provide more room for food preparation. Depending on the size of your budget, however, it might be wiser to opt for more affordable upgrades.
Lastly, the home improvement industry has been enjoying a renaissance in recent years. Thanks in part to the 2020 coronavirus outbreak, more people are taking the time to revamp their homes. Home improvement is expected to see a significant boost in popularity in the coming years. While the cost of remodeling a home can be significant, the reward can be a more comfortable, stylish and energy-efficient home.
The best way to make a solid investment in your home is to have a comprehensive, well-researched plan for the project. This will not only help you stay on track, but it will also help you avoid making any uninformed decisions. Also, a good home improvement plan will not only boost your home’s aesthetics, but it will also improve the quality of your life.