Homeowners will continue to do substantial maintenance, repairs, and improvements on their homes, including remodeling, structural alterations, additions, and replacements, well into 2022, according to the latest Leading Indicator of Remodeling Activity (LIRA). This is a project of Harvard University’s Joint Center for Housing Studies (JCHS). The last historical estimate was for the third quarter of 2021, showing a 7.6 percent increase in spending. This is expected to increase by nine percent in the first quarter of 2022 and 8.8 percent in the second quarter. By the third quarter of 2022, the projected increase is 12.3 percent to reach $400 billion in spending.
Inflation can alter the home improvement plans of some homeowners, though. CNBC reported that in November 2021, inflation rose by 6.8 percent from November 2020. The Department of Labor said this was the fastest rate of increase since 1982. The Economist forecasts that inflation will continue to increase in 2022. Even if it slows down, it will only reach pre-pandemic levels by the end of the year.
This means that the prices of materials for home improvement and appliances will continue to go up. With that, the cost of labor will surely follow. Home improvement projects can continue if homeowners do the work themselves and invest their money in hardware materials and appliances instead. Hence, when they go to a trusted hardware store like Banner Solutions, they can afford to purchase items of the best quality that will last.
Homeowners must first assess what is doable, though. Unless you have the expertise, you must not tackle significant structural changes lest you do damage that will be more expensive to fix. You must also hire licensed or certified professionals to install, maintain, and repair the electrical system, plumbing system, and heating, ventilation, and air conditioning system.
Easy Outdoor Improvements
Regarding the house’s exterior, a good power washing will brighten it up and make the paint look fresh again. Check for any broken or missing sidings and replace them. If the paint still looks shabby, you can give it a fresh coat. You may want to give the front and garage doors different colors for a different look. The fence may also need repainting.
Include the roof and gutters in pressure-washing. Check for any shingles that need replacements. If the gutter is rusty or sagging, it must also be replaced. Do regular checks to make sure that the gutters are not clogged because this will enable water to enter the house in areas you cannot see and will cause damage and the growth of mold that is dangerous to your health.
Give your yard a makeover. If you are tired of maintaining the lawn and want to save water, you can limit the plants to bushes beside the fence and against the house. Transform the space in-between into an open or roofed patio. You can put up a canvas canopy or use polycarbonate sheets as patio roofing. It is easy to lay down patio flooring, and you can find many tutorials online. There are also many types of flooring tiles to choose from. You can even learn how to make a fire pit at the center of the patio. Add some outdoor furniture, which will be a great gathering place for the family.
Easy Indoor Improvements
Begin with a deep cleaning throughout the house. This includes shampooing the carpet and upholstery as well as washing the walls and ceiling. Afterward, you will see what needs replacement or repainting. Painting is one of the cheapest ways to make anything look better. You may want to shift to a completely different color scheme. You can paint not only the walls and ceiling but pieces of furniture, as well. Also, you can choose a complementary or contrasting color. You can even strip the floor of an old carpet and paint it instead. There are paints specially made for floors.
Replacing curtains or using other window treatments like modern blinds will further transform the look of your rooms. Use other fabrics as highlights, such as attractive throw pillows and sofa throws.
Make a room look brighter or cozier at different times by using lights with dimmers. Change to new light fixtures that match each room’s new style.
You will find that as you transform each room, you will naturally weed out items that are no longer necessary. Extend this decluttering to closets and cabinets to free up space and to be able to put other things you wish to keep out of sight. You can sell or donate the stuff you do not need.
Many people who will be continuing to work from home will include their home office in the makeover. Having a nice workplace is inspiring and refreshing. It also eliminates the need for a Zoom background. Why not flex your own interiors instead?