Home improvement is a general term that covers the renovation of an existing property, including electrical and plumbing upgrades, siding, roofing, exterior work, and landscaping. It can be done for a variety of reasons, such as making it more comfortable and functional, increasing its value, improving safety, or just for personal preference.
When planning home improvement projects, it’s important to consider safety and aesthetics as well as costs. It’s also a good idea to get referrals from friends or family who have had work done in the past.
During times of high inflation, it can be hard to find the funds to pay for expensive projects like remodeling or adding a new feature to your house. So many homeowners are opting to do small repairs that improve their home’s energy efficiency or make it feel more welcoming and inviting, experts say.
The American Housing Survey, which is conducted every two years, asked respondents to report the amount of money they spent on a variety of home improvement projects. Experts say this is a good indication of what projects will be popular in 2023.
Top 10 Projects to Watch
A majority of homeowners are focusing on projects that increase home value and improve safety, such as installing new insulation, upgrading their heating and cooling systems or making their home more secure. But a significant number are also doing smaller projects that enhance the look of their homes, including putting in wallpaper or paint on one wall, installing a stand-alone tub in the bathroom or changing lighting in the kitchen.