Home improvements can change the look of your home without breaking the bank. You can update outdated hardware and architectural details yourself, which will make the space look updated. To add visual interest to a room, choose wallpaper with bold patterns or accent tiles. You can also change hardware, such as switch plates, to match the decor. You can also add new millwork to a room to add a finishing touch.
Competition in the home improvement market is intense, and this limits the market growth potential. The major players in the market compete on pricing, product portfolio, and premiumization. The entry of new entrants and private label players has increased the level of competition. Additionally, many of the major players are moving toward omni-retail strategies, which means that they will have to compete on a wider range of features.
In addition, rock-bottom interest rates have made home improvement projects more affordable. And in uncertain economic times, it can be comforting to invest in your home. In addition, most respondents are planning to hire someone to do some of the work. According to Angi, the number of homeowners planning to complete home improvements will increase by 2021.
Home improvement financing options vary by the type of improvement you’re planning, the length of time you’ll need to complete the project, and your creditworthiness. Some credit cards offer 0% APR introductory periods of six to 21 months, so you can finance your project without incurring interest.