One of the most popular forms of home improvement projects involves landscaping. In fact, homeowners have been spending a record amount of money on these projects, with average spending increasing by more than 20 percent.
Home improvement projects can be completed either in one shot or over time. If you are planning a large project, you may want to consider a home equity loan. This allows you to borrow up to 85% of the value of your home. However, you must have 20% of your home equity in order to qualify.
Another option is a personal loan. These can be used to help with almost any project. They are available from a variety of lenders. It’s a good idea to compare lenders to ensure you get the best deal.
Home improvement contractors are specialized professionals who perform building remodeling and maintenance work. They also provide technical support and strong customer service.
Most of the major vendors compete on product portfolio, pricing and differentiation. Many new players have entered the market, boosting competition.
The Axiom survey asked consumers about their recent projects, as well as their plans for future projects. Forty-eight percent of respondents said they planned to undertake at least one home improvement project in 2021. Of those, 46 percent plan to do the job themselves, while 38 percent plan to hire a professional.
The Harvard Joint Center for Housing Studies predicts a spike in home remodeling activity in the first half of the year. However, they anticipate a slowdown in growth over the next few years.