Home improvement is an important part of living in a home. It helps make the house more comfortable and can also increase the value of the property. Whether you’re a DIY home renovation fanatic or simply enjoy watching TV shows about home remodeling, there are many things you need to know before taking on a project.
Do-it-yourself projects are on the rise — and so is homeowner spending. In fact, Americans spent an average of $624 billion on home repairs and improvements between 2013 and 2021, according to the latest American Housing Survey.
A majority of these projects — 78% — were funded mainly with cash, although some homeowners turned to debt such as mortgages and credit cards. Those are a risky option, as they often carry high interest rates and can lead to significant credit card balances that can hurt your creditworthiness.
When you hire a contractor, they must provide a written contract that outlines the scope of the work to be done. It should include the timeline for completion, payment schedule and other details that help you ensure the job is completed on time and within budget.
It’s always a good idea to look for a contractor with a license and insurance. Licensed contractors are required to meet a stringent set of standards that ensure you are getting the highest quality and professional service. You can also check to see if the company has any complaints on file with the Better Business Bureau, and ask for references from previous customers.
The best contractors offer warranties on their work, and should be able to explain how the company protects its work so you don’t have to worry about problems. Some companies even offer financing, so you can pay in installments rather than all at once.
Homeowners should always shop around for a good price when hiring a contractor, especially for large-scale projects. Several websites will let you compare prices from various contractors in your area.
You can also request estimates from multiple contractors before making a decision. This will give you an idea of what the average cost will be for the type of work you need done.
Most importantly, the contractor should be able to show you previous jobs that they have completed for other homeowners. This will help you avoid the scams that can be so common with contractors and ensure that you’re getting quality work for a fair price.
Before signing a contract, you should get an estimate of the materials and labor costs for your home improvement project. This will help you decide if it’s worth it to hire the contractor or not.
A good contractor will be able to walk you through all of your options, including which ones are best for you and your budget. This will help you to get a good deal on your home renovations, and make sure that your house looks and feels its best for years to come.