Home Improvement Trends for 2020
Home improvement is a constant process for homeowners. Whether it’s fixing a leaky roof, adding new windows or renovating the kitchen, there are always projects to keep them busy. However, it’s important to balance the cost of a project with its expected return and your own happiness factor.
Some home improvement projects can’t be put off, like a faulty electrical system or mold. These renovations are necessary to ensure safety and to avoid significant damage. Other upgrades, such as energy efficiency improvements like insulation and replacement windows, help reduce utility bills and add value to the house when it’s time to sell.
The pandemic boosted home improvement activity in 2020, but it wasn’t the only driver. Other reasons included making the home more comfortable, boosting enjoyment with the home and satisfying DIY urges.
While many projects can add resale value, not all are wise. It’s important to understand how each upgrade will affect the resale value and how potential buyers might respond to it.
Some projects, such as creating a master suite with a bathroom, walk-in closet and dressing room, aren’t as popular with potential buyers, so they might not add as much value as you’d expect. It’s also important to talk to a real estate agent before starting any major renovation to get a better idea of what will appeal to the market.