Home Improvement Priority Projects to Tackle This Fall

The increased pace of home improvement that began during the height of the pandemic isn’t showing any signs of slowing down. As fall’s cooler temperatures curtail outdoor activities, many homeowners are embarking on projects around the home to enhance their living space and increase their home’s value. 

In fact, according to Modernize Home Services’ quarterly homeowner insights analysis, a survey of more than 6,500 homeowners revealed that nearly two out of five are pursuing projects to save money in the short- and long-term. The extensive survey covers homeowner behaviors, future project planning, budgets and financing, preferences and more. Some of the reports most interesting insights include:
  • 39% of homeowners plan to pursue additional home improvement projects over the next year.
  • While the majority of homeowners are repairing damage, 37% are pursuing projects to save money on monthly electricity and utility bills, and 19% are looking to increase the value of their home.
  • 72% plan to budget $5,000 or less on their upcoming projects.
  • If financing were available, 34% of surveyed homeowners would finance their entire home improvement project.
Here’s a look at some of the projects homeowners are planning and how the dollars and cents break down:
  • Roofing: More than 50% of homeowners plan to install gutters or gutter guards during their roofing project; if financing were available, 36% of homeowners would seek to finance the entire roofing project.
  • Solar: 58% of homeowners pursuing projects are not aware of the current 2021 federal residential solar energy credit.
    • 22% of homeowners plan to spend more than $10,000 on their solar project.
    • Approximately 83% are installing solar to save money on utility and electric bills.
  • Windows: 67% of homeowners wish to finance some or all of their upcoming project.
    • 84% plan to spend $5,000 or less.
  • HVAC: 65% of homeowners are budgeting between $2,501 and $10,000 for an HVAC project.
If you’re planning one of these projects or another type of home improvement, talk to a local real estate professional to find out how it might impact the value of your home. You may want to prioritize projects that amplify your investment.

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