Home Improvement Industry Statistics, Trends & Analysis [2020]

July 26, 2020

The U.S. home improvement industry is stronger than it has been in over ten years and encompasses the sale of building materials, appliances, décor, and other home enhancements, and the services offered by contractors, tradespeople, and other workers who help to build, install, modify, and upgrade homes. The business of homeownership represents a significant portion of the U.S. economy.

$394B

total home improvement sales in the U.S. in 2018

$680B

forecast revenue for DIY home improvement market in 2025

5.5%

growth of U.S. home improvement industry in 2019

68%

consumers who visit home improvement store websites

With a nationwide shortage of housing and record-high home prices, more homeowners prefer to stay in their properties versus move or upgrade to new ones. The deficit doesn’t just affect owner-occupied properties. Rental housing is also increasingly scarce. It’s no wonder that nearly half of American homeowners are living in the first home they

Bold Dominance in the Home Improvement Industry

July 9, 2020

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Florida Home Improvement Grants Can Help You!

July 9, 2020

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Need home repairs? You can get Florida home improvement grants to help you repair your home even if you can’t afford the costly fixes right now! We found ways to help you get your home updated for little to no cost!

Get more information on home repair grants right here.

Get free Florida home improvement grants.

The USDA Florida home improvement grants could help you make your home better. You can use the grants for repairs to upgrade the home and also to make it safer.

Florida’s weatherization program might not be able to help you fix everything that’s wrong with your home, but it can help you make valuable upgrades to the energy efficiency of your home. The program helps homeowners who qualify by upgrading insulation and flooring to make the home more energy efficient.

The Florida low-income emergency home repair program could help you if you need home

The Best Home Improvement Loans of 2020

June 24, 2020

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Your home is an investment, and home improvement loans can offer the funding you need to strengthen that investment with renovations, updates and repairs. However, there are risks involved, and not all home improvement loans are the same.

This guide covers the types of home improvement loans available, the costs of a home improvement loan, how to qualify and how to choose the best lender. It is designed to help you decide if accessing your home’s equity or taking out a personal loan for home improvement is a good choice, and offer insight into how you can find the best loan for your needs.

What Are the Best Home Improvement Loans of 2020?

U.S. News conducted an in-depth review of the leading U.S. mortgage, home equity and home improvement lenders. Lenders were evaluated based on product availability, customer service ratings (using J.D. Power’s 2018 U.S. Primary Mortgage Origination Satisfaction Study),

Seattle WA Home Prices & Home Values

June 21, 2020

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The median home value in

Seattle is $767,906.

Seattle home values have
gone up
2.2%
over the past year
and Zillow predicts they will
fall
-1.7%
within the next year.
The median list price per square foot in

Seattle is $517, which is

higher than

the

Seattle-Tacoma-Bellevue Metro

average of $285.

The median price of homes currently listed in

Seattle
is
$689,900
while the median price of homes that sold is
$705,600.

The median rent price in

Seattle
is
$2,600, which is

higher than

the

Seattle-Tacoma-Bellevue Metro

median of
$2,295.

Foreclosures will be a factor impacting home values in the next several years. In

Seattle
0.1
homes are foreclosed (per 10,000).

This is

lower than

the
Seattle-Tacoma-Bellevue Metro
value of
0.8

and also

lower than

the national value of
1.2

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage

10 Home Improvement Projects That Return The Most At Resale

June 17, 2020

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Garage door replacement — Compared to the cost of some other home improvements, a garage door replacement can increase its … [+] resale value when it comes time to sell your home.

Getty

If you want to get the biggest return on your investment in home renovation projects, it would be wise to take your to-do list outdoors. The 2020 Cost vs. Value report by Remodeling magazine found that nine out of the top 10 high-return projects are exterior replacement projects. Only the minor kitchen renovation rivals the rate of return of most exterior projects.

Whether you are just thinking about remodeling or ready to dive in, prioritize these exterior projects that will add curb appeal and value when it’s time to sell or refinance.

1. Manufactured stone veneer

Average cost: $9,357

Average resale value: $8,943

Cost recouped: 96%

2. Garage door replacement

Average cost: $3,695

Average resale value: $3,491

Cost recouped: 94%

3.

Home – Interior Federal Credit Union

June 17, 2020

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What Is a Home Improvement Loan?

June 12, 2020

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What is a Home Improvement Loan?

Homeowners can apply for home improvement loans for a variety of reasons, including remodeling, updating or making repairs to their home. Loans can be issued for anything as simple as a roof repair, an update to an energy-efficient furnace or a new addition. Repayment for this type of loan can be made in many different ways. A homeowner can take an unsecured loan or use the equity in the home as collateral. A homeowner can also take a first mortgage loan or a subordinate loan. Each scenario is unique and will require careful analysis of the type of financing that may be best suited for the situation.

If You Have Little or No Equity in the Home

For minor repairs or updates: Your only choice would be an unsecured loan. Since the repairs or updates to the property are minor, the value of

Best Home Improvement Loans 2020

June 12, 2020

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» MORE: Pre-qualify for a home improvement loan on NerdWallet

Details about home improvement loans

A personal loan used for home improvements is like any unsecured personal loan: It’s not guaranteed by your home, the rate you receive depends primarily on your creditworthiness and the rate and payments are usually fixed, which means you can reliably schedule monthly payments into your budget.

Higher rates: Since the loan is unsecured, the interest rate may be higher than on a home equity loan or home equity line of credit. Rates from online lenders range from about 6% to 36%. Rates for home equity loans and HELOCs are usually in the single digits.
Fast funding: Online applications typically take a few minutes, and funds are available within a day or two at some lenders. Learn how to get a personal loan for a smoother process.
No tax benefits: You can’t claim a tax

Best Home Improvements to Increase Value

June 4, 2020

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Whether you’re thinking of selling in the next six months or a few years down the road, remodeling with ROI in mind is a smart move. Your home is a huge financial investment, and any money you put toward it should not only increase your enjoyment of the home now but also add value that you’ll recoup when you sell.

According to the Zillow Group Consumer Housing Trends Report 2018, sellers make an average of 2.2 renovations or improvements before selling. And 79% of sellers make at least one improvement, which means that only 21% list their home as-is.

How to budget for renovations to increase home value

Before researching renovations that might add the most value to your home, decide how much you can afford to spend and how you’ll pay for the renovations.

All-cash home improvements

If you can afford it, paying cash is your best option, as

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