According to a new report from Forbes Magazine, the market for home decor has only ramped up over the past decade despite the unsteady economy. In fact, the industry for home renovations and do-it-yourself improvement projects accounted for roughly $65.2 billion last year alone.
Much of this has been attributed to an increased awareness of the benefits of energy efficiency, and how improvements small and large can contribute to significantly lowered utility bills.
Another major reason for the increase may have everything to do with the troubling economic landscape. The Magazine reports that many families who purchased larger homes before the housing market bottomed-out in 2010 are now finding that they can't afford to live in them anymore. These property owners are looking to home improvement as a solution to make their residences not only more comfortable, but more cost efficient.
Entire television networks devoted to home improvement have had a big impact on people's attitudes regarding do-it-yourself decor options, as proven by the increased popularity of channels like HGTV and the DIY Network.
Forbes also reports that stores such as Lowes and Home Depot have seen huge jumps in revenue over the past few years. In fact, these are two of the only major big-box companies to actually increase revenues throughout the recession.
Homeowners have increasingly opted for such energy efficient options as replacing window treatments with dressings that have insulating qualities, handcrafted door stoppers to seal in heat and decrease drafts in a space and larger endeavors such as new roofing.
If you are interested in taking advantage of a renovation that will have an impact on your monthly utility costs, contact a home inspection contractor to perform an energy audit that will highlight how you can reduce your home's carbon footprint.