Home improvement is one of the biggest markets in retail and provides plenty of opportunity to earn a good return on your investment. However, it’s important to remember that not all home improvements are created equal. Many projects have very little impact on a house’s resale value, and others can actually decrease it. To make the most of your money, it’s best to focus on high-impact projects with solid ROI percentages. Some of the most popular projects are those related to a home’s energy efficiency. For instance, new windows and a heat pump can lower utility bills and make the home more attractive to potential buyers.
If you’re a first-time homeowner, it may be tempting to get started on big home improvement projects as soon as you move in. However, it’s a good idea to take your time and wait until you have a year of experience living in the home before doing anything too drastic. While it’s important to address any broken appliances or mechanisms right away, you should also give yourself a chance to see how the house functions and if it suits your lifestyle.
According to a NerdWallet survey, about 3 in 5 homeowners have taken on home improvement projects since the pandemic began. Roughly half of those say they were able to pay for the projects without tapping into savings or going into debt. The survey also found that aging homeowners are responsible for the majority of home improvement spending.
Whether you’re a homeowner looking to increase your home’s value or just want to update the style, it’s important to choose the right materials and hire a reputable contractor. Homeowners should be sure to verify a contractor’s license, insurance and business references before hiring them. It’s also a good idea to find out whether or not a contractor is affiliated with a trade association.
When it comes to home improvement, there’s a lot of information available online and at local hardware stores. While there’s no substitute for hands-on experience, you can learn a lot from the tips and tricks shared by experts in the industry.
Home improvement is a great way to add character and functionality to your property. However, it’s essential to plan your project carefully and choose materials that fit within your budget. Otherwise, you could end up spending more than you intended to and potentially damaging your property in the process.
