Home Improvement 101

Home improvement

Home improvement is a broad category that covers anything you do to improve the way your home functions and looks. It encompasses everything from installing a new kitchen to repairing a leaky roof.

Inflation and Big Projects

Inflation is making it more difficult for many homeowners to make large purchases or undertake big projects like renovating a kitchen or adding a bathroom. This is causing some people to put off renovations until they can afford them, a Hippo Insurance study found.

Choosing a Contractor

Whether you’re hiring a contractor or doing it yourself, it’s important to find one that is right for your project. This involves comparing costs, experience and reputation. It’s also helpful to ask for references from other homeowners.

A good way to make sure that you’re getting the best deal is to compare contractors who have bid on similar work. Be sure to ask for a detailed description of what will be done and when, as well as the materials to be used.

Financing Your Renovations

If you’re planning to make major improvements, it might be best to set aside some cash or use a personal loan. Both options offer low interest rates and flexible terms. If you’re on a tight budget, though, it may be easier to pay for upgrades with a credit card that offers an introductory 0% APR period.

The 2021 American Housing Survey found that Americans spent $624 billion on home repairs and improvement projects during the two-year period from 2013 to 2020. That was a 23% increase from the $365 billion in spending from the same time period a decade earlier.

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