Tag: remodeling

Home Repair Contractors

Home remodeling projects that boost curb appeal pay off the most

Home renovation activity may have cooled somewhat compared with its pandemic-era frenzy, but homeowners are still investing in their spaces, particularly as the spring housing market heats up.

And when it comes to the return on investment, some projects now offer the highest return values in history — with a few home upgrades averaging returns of nearly 200% for the first time ever — according to the 2024 Cost vs. Value report from Zonda Media, a housing market research and analytics firm.

Garage door replacements offered the highest average return at 194%, followed by upgrading to a steel front door,

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Home Repair Contractors

Spending on home renovations slows, but high remodeling costs mean little relief

LOS ANGELES — Homeowners have been spending more on home renovations in recent years, as high interest rates and stubbornly high inflation drove up costs for everything from flooring to refrigerators.

The home improvement spree got particularly heated early in the pandemic, when Americans invested to make their homes better suited for remote work and learning. But the home improvement frenzy appears to be cooling.

Harvard University’s Joint Center for Housing Studies’ latest leading indicator of remodeling activity, or LIRA, suggests homeowner spending on renovations and repairs will fall to $449 billion this year. That would represent a roughly 7%

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Home Repair Contractors

Downturn in Home Remodeling May Bottom Out in 2024

Spending for residential improvements and repairs is expected to shrink this year for the first time since 2010, but signs point to some easing of declines by year’s end, according to the Leading Indicator of Remodeling Activity (LIRA) released today by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University. The LIRA projects that declines in annual homeowner renovation and maintenance expenditure will worsen through the third quarter of this year before moderating slightly to -6.5 percent by the end of 2024.

“Home remodeling will continue to suffer this year from a perfect storm of

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Home Repair Contractors

Smart Ways To Use Your Home Equity For Remodeling

Your home equity represents the share of your home that you own outright — either paid for in cash or repaid on your mortgage. If the value of your ownership stake is substantial,  you could utilize that equity to fund repairs or upgrades to your home: Use your home’s worth to further enhance its worth. Nevertheless, it’s important to carefully evaluate the advantages and disadvantages before accessing your home equity for remodeling purposes.

Key takeaways

  • If you want to tap into your home equity for a home improvement project, it’s important to understand how home equity financing works.
  • Two popular
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Home Repair Contractors

Home remodeling exploded as a result of pandemic: Housing expert

When the COVID-19 pandemic struck and lockdowns ensued, Americans found themselves with more time than ever to focus on their living environments.

As a result, home remodeling in the U.S spiked. Annual spending on improvements and repairs to owner-occupied and rental properties between 2019 and 2021 grew 23% to $495 billion, according to a new study from the Joint Center for Housing Studies of Harvard University. That’s compared to the market’s historical 4.4% average pace of growth.

Carlos Martín, who worked on the study, is project director of the remodeling futures program at Harvard. During a recent appearance on Yahoo

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