While many American homeowners believe they have the ability to tackle home improvement projects, many aren’t confident enough to attempt it themselves. Home Depot, for example, reassures homeowners that they can do many of these projects themselves. In fact, four out of five homeowners hire a licensed tradesman or specialist, while 36% hire a construction manager. Twenty percent even hire a designer. Although Americans love to watch home improvement television shows, most don’t have the time or know how to carry out certain tasks.
Renovations
There are several types of home improvement projects, including kitchen renovations. Some of these involve simply repainting the walls and updating hardware and fixtures. Others may include extending the lifespan of windows and doors, or transforming the structure of the entire home. No matter what the purpose of the renovation project, these projects can improve the overall value of your property and add resale value to your home. Here are the types of home improvements you can consider.
Contractors
Before hiring contractors for home improvements, be sure to check their references. You should ask for at least three references to confirm that the contractor completed the work they promised. References should be able to tell you if the contractor did the work on time and with a high level of quality. Some contractors will have photographs of their work, so a visual inspection is a good way to confirm the quality of their work. You can also check the Better Business Bureau for complaints or court records.
Financing options
There are many different types of financing available for home improvement projects. Choosing the right type of financing for a home improvement project will depend on your credit history, the equity in your house, and the amount you need to borrow. Using a home improvement loan calculator will help you determine your payment. You can also choose a loan with an interest rate that suits your budget. Regardless of which type of financing you choose, it is important to choose one that you can afford.
Problems with renovations
Old houses often have plumbing issues. While modern building practices call for plastic or copper pipes, these older homes are still built with old-fashioned materials such as galvanized pipes, which corrode, clog and even collapse. Thankfully, newer building practices can fix these problems and ensure that your renovation doesn’t end up like Woodward’s. But if you’re remodeling an old house, you may not be able to avoid some of these problems entirely.
Cost
According to a recent study by the Joint Center for Housing Studies, Americans will spend $420 billion on home improvement projects in 2020. These improvements will range from gutting kitchens to installing home security systems. Some homeowners may take out home equity loans to finance the project, while others may scrape together their savings to cover the unexpected costs of repair work. The amount of money spent on home improvement projects is highly dependent on the type of renovation, the materials used, and where the project will be performed.