Home improvement is one of the simplest ways to improve the value of your home. But it can also be expensive if you do it improperly.
During the two-year period covered by the 2021 American Housing Survey, homeowners spent an estimated $624 billion on home repair and improvement projects. This soared from about $300 billion in the past decade.
The number of home improvement projects increased by 44%, while spending grew by 28%.
Projects that increase your home’s energy efficiency are primed to become popular in the near future, according to a new report from Hippo Insurance. They reduce your electricity and gas bills, while offering a reprieve from high inflation.
These kinds of updates are likely to be the most common projects homeowners take on in 2022. They’re especially important for homeowners with older homes or those with uneven heating and cooling systems.
Some of the most popular DIY home improvement projects in 2022 involve updating kitchens and living rooms, bathrooms and exteriors. Others include repairing cracked windows, replacing or adding a front door, and putting in new carpet or hardwood floors.
Regardless of the project, it’s best to choose a reputable contractor for the job. Check references and make sure the company you hire is licensed in your area. Call or go online to the consumer affairs departments of your city, county and state. Be on guard against unscrupulous contractors who use deceptive written statements to get your signature on a contract.