Adding a bathroom or finishing an unfinished space can increase the value of a home. Some people opt for simple interior design updates that are inexpensive.
If you are planning to remodel your home, you may want to consider a home equity loan to help finance the project. These loans have a fixed monthly payment and allow you to borrow up to 85% of the home’s equity. A second mortgage is also a viable option.
The number of consumers planning to perform home improvement projects has increased. According to an Axiom survey, 57 percent of respondents aged 19 to 55 are planning to do the project themselves, while 40 percent plan to hire a professional.
Another important factor to consider when hiring a contractor is responsiveness. If your home improvement contractor fails to communicate well with you, you may not choose to work with them again.
If you are planning a home improvement project, it is important to make sure your contractor is insured. You should also check their references and license. It is also helpful to have a good idea of how much the project will cost.
The Angi survey reports that homeowners are spending more on home improvement projects than they have in the past seven years. The average amount spent on a home improvement project increased by 20 percent over last year.
The Axiom survey found that most homeowners are planning to undertake some home improvement projects, with 44 percent planning to perform more complicated projects. This is a sign of increased demand for contractors.