Whether you’re buying a home or just looking to do some repairs, there are a few key points to keep in mind when hiring a contractor. Ensure that you follow these guidelines to avoid any penalties that may arise from your contractor’s performance.

Millennials are buying homes

Millennials are buying homes in a huge number. According to a recent study by Apartment List, Millennials will be the biggest group of home buyers in the U.S. in the next two years.

The millennials are bringing a new and different approach to the home buying process. For one, many are utilizing technology to their advantage. They are able to locate properties via mobile devices, which is a big change for Realtors.

A recent survey found that a whopping 58% of millennials use a mobile device to locate property. The trend is likely to be accelerated by the expensive real estate market.

Millennials are spending more time at home during the pandemic

During the COVID-19 pandemic, millennials have found their spending habits changed. They have cut back on eating out and have been more inclined to shop online.

A third of millennials predict that grocery delivery will increase in 2020. Many have learned to cook and save on meals. Some have also stopped making travel plans for the year.

After the pandemic, half of millennials have saved money on eating out. This may help maintain mental health. When the pandemic ends, some spending habits will return.

Cost vs. value of a home improvement project

Whether you’re considering remodeling your home or just want to increase its value, you want to know how much it will cost. You also want to make sure you’re getting a good return on investment.

A good way to figure out how much a home improvement project costs is to do a little math. If you know how much a project cost, you can plan your own project better. You may find that you can get a better return on investment for your project.

Penalties against contractors

Various state and local laws are in place to protect homeowners and consumers from contractors that break the law. Contractors that violate the law can face hefty fines and penalties. The penalties are designed to discourage home improvement contractors from breaking the law.

If a contractor does not have a license, he or she may face fines of up to $5,000. He or she may also face jail time. Depending on the violation, the contractor can also be subject to criminal charges.