The home improvement industry is a huge business with many contractors and companies providing services to homeowners. It is important for consumers to hire a reputable company that has the proper licensing and insurance. Consumers should also perform due diligence by checking references and performing background checks on contractors before hiring them for a job.
When homeowners undertake a home improvement project, they are usually hoping the work will add value to their home. However, not all home improvements are created equal and some actually decrease the value of a home. Generally, adding value to a home requires remodeling or renovating a kitchen, bathroom or bedroom. Often times, people will choose to spruce up their outdoor space by installing a deck or fence.
As a result of the Covid-19 pandemic, Americans became DIY fanatics, spending a record amount on paint and other supplies. Now that the outbreak is over, home improvement spending has been on the decline. This has led to major home improvement retailers like Lowe’s and Home Depot lowering their profit and sales forecast for the year.
In a time when the economy is weak, many homeowners are opting to stay put and make upgrades to their existing homes rather than moving up or down the property ladder. According to Anderson, the categories that are surging the most have to do with work that is done outside of the house. For example, the number of people building decks is up 275% and the number that are constructing fences is up 144%.
A lot of the research and analysis on the home improvement industry is conducted by brands and trade associations. Some of this data may be available for free, while some may require a subscription or membership. One of the best sources for this type of information is Brandpoint, which offers free articles on a variety of home improvement topics.
The articles are written by expert contributors and are intended to be used as reference materials by professional contractors, home owners or by anyone who wants to learn more about home improvement projects. Articles include detailed step-by-step instructions, photos and videos. The articles are also optimized for mobile and tablet viewing. In addition to the free articles, Brandpoint also provides a variety of other tools for researching the home improvement industry including Topic Finder, InterLink and a mobile-optimized interface.