Many Americans have undertaken a home renovation project since the start of the COVID-19 pandemic, and some said they chose to do it themselves in order to save money, according to Scan from CraftJack.
Nearly three-quarters (73%) of Americans said they have done a DIY project since March 2020, spending an average of 45 hours working on those projects, according to the survey. The average annual cost was $1,692.46.
The number one reason Americans chose to do a project themselves was to save money by not hiring a professional, with 44% of respondents answering this way. Another 31% said it was out of a sense of pride and accomplishment while 29% said spending more time at home made them want to.
But not all projects went well. About 8% of those who tried a DIY project said they regretted it. The survey also stated that 16% were unable to finish their project due to supply chain issues and 27% were unable to finish their project overall. Some of those trying to do the DIY (about 13%) said they ended up calling a professional for help and 29% said they broke something while trying their project.
If you’re ready to start your own DIY business, rising home values have given homeowners access to record high levels of equity, which they can access with cash refinancing. Visit Credible to find the interest rate assigned to you without affecting your credit score.
A majority of Americans think home renovations are taking longer than planned: Survey
Top DIY projects
According to the survey, the biggest DIY project in the US since March 2020 has been painting. This was followed by the replacement of faucets and shower heads, shelves, the construction of storage organizations, and the installation of blinds.
CraftJack also looked at Google search results, which it said indicated that Americans were also interested in getting out of their homes. CraftJack said the most searched term on Google for projects was greenhouses. This was followed by search terms such as floating shelves, raised garden beds, and compost bins.
“While many are looking to upgrade the home’s interior, it is clear from these findings that exterior projects are also a priority,” said CraftJack.
Some projects, in particular, are becoming more and more popular near the start of the COVID-19 pandemic. Among them, CraftJack said, DIY digging, which saw a 1588% increase in Google searches between January 2020 and April 2020. Similarly, during this period, searches for DIY wallpaper increased 81%, DIY shelves increased 83% and decor increased DIY room 174%.
If you are looking for ways to pay for your DIY project, you can consider using cash mortgage refinance. Visit Credible to compare several mortgage lenders at once and choose the best rate for you.
Home price growth hit an all-time high in March: This is how homeowners can get it
Popular DIY projects vary by state
The most popular DIY projects have varied greatly from state to state over the past two years, CraftJack said. For example, Google search terms showed that those who lived along the East Coast were more interested in how to build a fire pit, while Americans in the Northwest were more interested in greenhouses.
Fire pits were the most common item, with 14 states looking for them the most. This was followed by Wallpaper Projects, which were the most searched in 10 states. Faux leather wallpaper has also been a popular trend on some sites.
Kraft-Jack said that when looking at individual cities, New Yorkers were interested in tile tables, while Seattle residents looked for bee houses. And in four cities, the best search result was comic book wallpaper.
“Although home DIY projects can be a significant commitment of time, energy, and money, they are probably still cheaper than hiring a professional (as long as you finish them yourself, and don’t break anything in the process),” CraftJack said in his analysis.
If you are interested in starting your own business, you can consider using cash refinancing to finance it. To find out if this is the right option for you, you can contact Credible to speak to a mortgage expert and have your questions answered.
Have a question related to financing, but don’t know who to ask? Send an email to our certified money expert email@example.com And your question may be answered by Credible in the Money Expert column.
#top #DIY #projects #Americans #CraftJack