Taking care of your home is a great investment. It can give you a sense of security during unsettling times. In addition to improving your home, it can also increase the value of your property.
The home improvement business is a growing industry. In fact, it’s expected to grow to $510 billion by 2024. In addition to the major vendors, there are many niche services related to home improvement. These niche services include things like home upkeep, home energy efficiency, disaster restoration and more.
The entry of private labels and new players has increased competition in the market. These new players compete on product portfolio, premiumization and pricing. They also compete on differentiation.
The most popular home improvement categories include landscaping, work in the backyard and work outside the home. Most homeowners plan to hire out some of their work.
When it comes to home improvement, most customers look for firms with decades of experience. These firms are thought to offer more satisfying results. Some customers also look for firms that have a history of reliability.
Home improvement contractors must establish a good relationship with their customers. Homeowners should verify the contractor’s license and insurance. They should also ask for references.
Many homeowners plan to spend more on home improvement in 2021. Eighty-five percent of homeowners plan to start their first project in the first half of the year.
In addition to working with the right contractor, homeowners must consider the cost of the project. The average cost of a home improvement project is highest since Angi started tracking seven years ago.