Here’s what homeowners are thinking about when it comes to home projects: It’s a good idea to make a plan for the next five years. It may be true for businesses, but savvy homeowners also plan well in advance to improve their homes.
Angi’s State of Home Spending Report 2023 reveals that more than 60% of respondents plan to increase their home investment in the next five-year period. The report states that when homeowners are given more time to budget and plan, they want to make more significant improvements to their homes.
What is the future of American home improvement projects? Here are nine of the most popular home projects that you can expect to see in the next five years. Remember, you can hire a handyman to help you.
People’s To-Do Lists: The 9 Most Popular Home Projects
According to a 2023 State of Home Spending Report, the most coveted home improvement project that homeowners would like to undertake in the next five years is a bathroom renovation. Some even wish to add an additional bathroom to their house. There’s more to the schedule than a new clawfoot bathtub.
Bathroom remodels are the most common home improvement project that people plan to undertake in the next five years. 36% of homeowners say they will be undertaking the upgrade.
The cost of a bathroom remodel depends on factors such as the size of your bathroom and what upgrades you choose. The cost of a bathroom remodel can vary greatly depending on the size and type of upgrades you want.
It’s generally best to hire a bathroom remodeler to handle this complex job. Some minor bathroom improvements are DIY-friendly, such as replacing the faucet or installing a new showerhead. However, more complex work like electrical wiring and plumbing requires the expertise of licensed professionals.
Installing Solar Panels
Solar technology is evolving to provide a cleaner energy alternative, which will save money in the long run. It’s no surprise that many homeowners budget to add solar panels to their homes.
There are some ways to save on solar installation. You can, for example, take advantage of the Solar Investment Tax Credit which was passed as part of the Inflation Reduction Act in 2022. The tax credit allows homeowners to claim federal income taxes for the cost of their solar panel systems. If you do not have the money to pay for your solar panel system upfront, don’t worry. You can either lease or borrow solar panels to make them more affordable.
Solar energy can save homeowners a lot of money on their utility bills.
Doing Outdoor Renovations
Around 27% of homeowners plan to renovate their outdoor spaces in the next few years.
The front yard can be improved with landscaping, while the backyard can be upgraded with patios, outdoor fireplaces, kitchens, and gazebos.
You can hire a landscaper in your area to help you realize your vision, whether it is a brand-new hardscaping project or something simple like a few flower beds. You can hire a landscape architect to help you plan a new outdoor space.
Upgrade an HVAC System into a Low Emission Heat Pump System
In the next five years, many homeowners — 23% of those who were surveyed — plan to upgrade their HVAC systems to low-emission heat pumps. This upgrade can reduce your utility costs by using a more energy-efficient source. Government incentives are also available. Upgrade your HVAC system to an efficient heat pump and you can save $500 in annual utility costs. This type of upgrade should be left to the heating and cooling professionals in your area.
Create a Home Office
Many homeowners have switched to remote working since the COVID-19 epidemic began. It’s not surprising that so many Americans work from home, at least in part.
Installing computer hardware, Wi-Fi, and furniture like cabinets, desks, chairs, and bookshelves are all part of building a home office. You can upgrade your office with soundproofing, which will minimize distractions. You can also adjust the lighting according to your preferences. Some homeowners upgrade their flooring.
A simple DIY project is to create a home office in an unoccupied room such as a small closet or a den. Call a contractor if you want to do a complete room renovation.