Home improvement is a concept that covers a wide range of activities, including maintenance and repair work, renovating existing spaces, building an addition to your home, and making changes to your property’s exterior. These improvements can increase your comfort, make your home more energy efficient or even improve your house’s value when it comes time to sell.
Homeowners have developed a renewed interest in upgrading their homes during the pandemic. According to the National Association of Realtors (NAR) 2022 Remodeling Impact Report, 83% of surveyed homeowners said they were planning on remodeling their homes in some way. The reasons why vary; the top three include replacing worn-out surfaces and finishes (31%), adding features and improving livability (20%), and boosting satisfaction with their current home (16%). The satisfaction factor is a big reason why most homeowners take on home renovation projects; it’s a great feeling to walk into your upgraded space and see the fruits of your labor.
While it’s true that completing a home improvement project can boost your satisfaction with your living space, many projects require a significant investment of both money and time. Almost half of homeowners who completed a home improvement project during the pandemic had to sacrifice other expenses or tap into their emergency savings to pay for it, according to NerdWallet research. Additionally, 20% of homeowners who took on a project during the pandemic had to sacrifice discretionary spending, and 12% had to take out loans or credit cards to pay for their renovations. While it’s not a good idea to go into debt, there are some smart ways to finance your home improvement projects without having to raid your emergency savings or dig into your savings.
Before you start digging into your next home improvement project, it’s important to understand how much popular improvements can cost and how they can affect your house’s value. We can help you understand what makes sense and what doesn’t by providing helpful tools, calculators and articles that will help you get the most bang for your buck.
Safety is the first thing to keep in mind when working on a home improvement project. It’s critical to ensure that all necessary precautions are taken before starting any project, especially when dealing with electrical or plumbing. It’s also a good idea to talk with a professional contractor before making any big decisions about how to proceed with a project.
The Gale OneFile: Home Improvement collection contains a wealth of information on how to complete a wide variety of home improvement projects. It contains more than 4.5 million full-text articles from hundreds of publications, plus videos and images that show you the steps to take to make your next project a success. The collection also includes access to the encyclopedias of Home Depot and Lowe’s and an expansive video library.
During the pandemic, most Americans were forced to spend more time at home. Many took advantage of this newfound free time by tackling DIY home improvement projects. Whether it was painting walls, re-grouting tile or power washing their exteriors, homeowners were eager to improve their living spaces.