Home improvement is a huge industry that includes building materials, appliances, decor and contractors. The home improvement market also includes DIY homeowners who take on projects to modify and enhance their living space. The industry has seen excellent growth results in recent years, especially during the COVID-19 pandemic, when consumers refocused their spending on maintaining and upgrading their existing homes.
Many homeowners embark on home improvement projects with a hidden motive: to increase the resale value of their property. A new kitchen, bathroom or swimming pool all seem like great ways to make a house more appealing to potential buyers. But be careful – certain upgrades can actually decrease your home’s value.
The most popular home improvement project in 2023 will be replacing carpeting, flooring and paneling, with 5.2 million Americans taking on the task. Overhauling surfaces underfoot and overhead is one of the best ways to improve your home’s aesthetic, and it can be relatively inexpensive.
Adding trim around windows is another low-cost project that will improve the look of your home. Other low-cost and easy-to-do home improvements include resealing and repainting your driveway or sidewalk, trimming shrubbery, and adding mulch to flower beds. Homeowners can also invest in a garden to grow their own fruits, vegetables and herbs.