Home Improvement Costs – How to Minimize Home Improvement Costs
There are a few certainties in life: death, taxes and for homeowners, home repair and improvement projects. Even when you don’t plan on them, they seem to find you in the form of a leaky roof or flooded basement. From 2017 to 2019, American homeowners took on an estimated 115 million home improvement projects, spending $522 billion, according to the latest Census Bureau data from the American Housing Survey.
Homeowners can take steps to minimize these costs. The most obvious is to shop around and compare prices before hiring a contractor. But there are also a few other things to consider, such as what type of project you’re doing and how much value it will add to your home.
Aside from saving money, the biggest reason to remodel your home is for your own comfort and enjoyment. If you renovate solely based on what will increase your home’s resale value, you may end up with something that doesn’t suit your lifestyle or doesn’t fit in well with the rest of the neighborhood.
When hiring contractors for home improvements, homeowners should verify their licenses and insurance coverage, check references and look for membership in a professional association or accreditation by an industry organization. In addition, consumers should check the contract to see if there is an arbitration clause. A contract must contain a description of the work to be performed and the materials to be used. It must also state when the performance of the home improvement will begin and when it will be substantially completed.