When you think of home improvement, you probably think of remodeling or renovating your home. Home improvement projects can vary from improving the interior to changing the exterior. You can use home improvement ideas to add value to your property and make it look brand-new. However, it can also involve repairing or replacing damaged parts of the home. Read on to learn more about home improvement projects. These are easy and inexpensive ways to make your home look beautiful and update its appearance.
A recent study found that Americans spent more than 50 percent on home improvement in 2017 compared to 2010, when spending fell to a low. And this increase is largely due to the growing number of older homeowners, who can now afford renovations. According to the Harvard Joint Center for Housing Studies, the aging housing stock and a shortage of new housing are the driving factors behind the increase in home improvement spending. Home improvement projects can be fun and rewarding, but be sure to budget accordingly.
Remember that, in New York, you’re required to have a written contract before hiring a contractor to perform home improvement work. This contract should specify a payment schedule, timeline, and the details of the project. Most importantly, a written contract should contain the architect or engineer’s plan, which should detail virtually every detail of the project. You can set up an escrow account to hold your payments until the job is completed. If the estimate is too high, you can negotiate a lower rate.