Home Improvement Trends for 2022

Home improvement is an industry that includes the sale of building materials, appliances, decor, and services provided by contractors or tradespeople who help to build, install, repair, and modify homes. It also includes the marketing of these goods and services to potential customers. It has been a robust market in recent years, and is expected to remain so through 2023.

It’s not always easy to make the right choices when it comes to improving your house. But with the right information, you can make smart decisions and get great results. Home improvement is more than just fixing up your kitchen or installing new flooring — it’s about making the overall living experience better. And with the right tips and tricks, you can achieve amazing results without breaking the bank.

According to the National Association of Realtors (NAR), homeowners have been in a renovation frenzy since 2021. This has been driven by a desire to upgrade worn-out surfaces, finishes, and materials; add features and improve livability; and simply enjoy their homes more. This has led to homeowners upgrading their kitchens (54%), bathrooms (27%), bedrooms (17%), and living rooms (16%).

The NAR report also found that homeowners felt a sense of satisfaction seeing their completed projects. This inspired them to continue their work, with 86% of respondents planning to renovate their homes in 2022. Some of these projects may be smaller in scope, such as painting or installing a backsplash, but others could be major, such as adding a new room, building an addition, constructing a garage or shed, or adding a deck or patio.

Whether you’re planning to sell your home in the future or just want to live more comfortably, the best way to decide what to renovate is to start by listing your home’s needs and wants. Then, prioritize accordingly. For example, a dingy 1980s kitchen probably isn’t that big of a deal, but a leaky roof or aging HVAC system certainly is. In these cases, needs should trump desires.

If you’re not sure how to proceed with your next home improvement project, it’s always a good idea to talk to an expert. A professional can walk you through the process from start to finish, and help you stay within budget. They can also suggest cost-effective alternatives to more expensive options, and offer advice on the best materials to use.

Many consumers underestimate how much their renovations will cost, and some even abandon their plans after realizing just how pricey their dream bathroom or kitchen might be. This is a shame, because renovation can be extremely satisfying when it’s done correctly. However, going over budget can lead to debt or the inability to make other necessary purchases.

If you’re not sure how to fund your renovation, there are plenty of options available. For example, you can apply for a home improvement loan or a home equity line of credit (HELOC). These loans and lines of credit are secured by your property, so they tend to have lower interest rates than unsecured loans. They’re also repaid over a set amount of time, which helps you manage your finances.