Despite Devastating Effects on the Broader Economy, Pandemic Has Been a Boon for US Home Improvement Joint Center for Housing Studies

Currently, they believe that 3.8 percent of the homes around the country are already in the tax zone for single people and that 1.2 percent have reached the threshold for married couples. The number House & Home Improvement of people affected is much higher, however, in expensive cities. In San Francisco, for instance, a quarter of all homes have a gain of over $250,000, thus having a tax impact on any single owners.

Each one can be completed in just a weekend and increases the function—and style! If you’ve got 20 minutes and $40, you can totally transform your home’s curb appeal with a new set of outdoor lights. Give your staircase a lift by stenciling risers to look like they’ve been adorned with vintage tile.

• But the government programs help these lenders make loans that they might normally not fulfill.
• Dress your windows.The Shade Store can install anything from ripple-fold curtains to wood blinds just 10 days after you order.
• If your application gets accepted though, you may secure yourself a better deal and sufficient funds for your home improvements.

With your agent’s help, run the return on investment numbers for using the best exterior paint for your space. Curb appeal is a huge factor for selling a home quickly and for the best price, but sometimes, the numbers don’t add up if you pay for an entire exterior paint makeover. Just make sure your color picks reflect the overall neighborhood style.

A simple fireplace makeover can begin with items you already have in your home. Shop your existing inventory of accessories and display a few on your mantel for a quick, no-cost refresh. Stainless steel, stamped tin, wrought-iron grillwork, glass, and wood painted to match your flooring or countertops are all possibilities. “The process is simple,” says Mike McAllister, owner of Riverside Kitchen Center in Mount Vernon, Washington. “Remove the small flange that holds the existing insert, then replace the insert with your material and add wood or metal stops to keep it in place.”

The categories of home improvement surging the most, though, have to do with work outside the home — just outside of it, that is, primarily in the backyard. There has been an almost threefold increase in building decks, and the number of people putting up fences is up sharply as well, according to Anderson. Anderson says that rock-bottom interest rates also make home improvements more attractive. And he says that in unsettling times, spending on one’s home can be a comforting investment. Americans have been forced to use their houses more — and differently. But that doesn’t account for the huge spike in demand documented by Max Anderson, chief economist at Porch.com.

Restore Your Front Door

You’ll also find advice on holiday cooking and decor, party planning ideas and even healthy recipes and natural living tips. Hardwood floors are timeless and always a great investment because it’s what home buyers are looking for. Is a mental state, a feeling of having agency over ourselves, our finances, and decisions made about how and where we live. It is a feeling of being ‘on top of things’ and in charge of decisions being made about the home. This could be affected by how high the rent or mortgage is, or the extent to which renovations to accommodate the needs of the family or people living the home are permitted.

“A renovated bathroom can add up to $50,000 to the value of your home,” for a dream renovation with top-of-the-line additions. An upscale bath remodel can net homeowners 54.8% of the project price when selling, the report notes. This is the hub of the house where families cook, eat, gather, and socialize. Consider professional-grade efficient appliances, multiple seating options, and marble or quartz countertops, Dogan says. “A renovated kitchen can add up to $100,000 to the value of a home,” for higher-end projects, she says. Owners can expect to recoup 72.2% of their investment for a minor kitchen remodel, according to the Cost vs. Value report.

Banks and other lenders make these loans from their own funds, and the Federal Housing Administration insures the lender against a possible loss. A lifetime mortgage allows you to take out a loan that is secured against your property in return for either a cash lump sum or a regular income. Updating your home through both small and large improvements can be an empowering experience.