With May upon us already, here's a reminder that May is Home Improvement Month. Getting those Columbia SC home improvements done and saving some serious cash at the same time is on everyone's wish list. Follow these tips for hammering out a better deal on your Columbia SC home improvements…

Columbia SC homeowners, or at least half of them, plan to do some sort of renovations this year. This is according to an annual survey by LightStream, which also determined this year's most popular renovation projects. (LightStream is an online lending division of SunTrust Banks Inc.)

Renovation Projects Columbia SC Homeowners Plan to Do

Landscaping, deck/patio or other outside renovations — 43 percent.
New roof, windows, HVAC, solar or other home repair — 33 percent.
Bathroom remodel — 29 percent.
Kitchen remodel — 26 percent.

LightStream reports the home improvement industry continues to regain strength as 57 percent of Columbia SC homeowners are looking to complete home remodeling or maintenance projects this year, according to a survey conducted online by Harris Poll.

The LightStream survey found that more than a third of Columbia SC homeowners planning to renovate expect to spend $5,000 or more this year, with 18 percent investing more than $10,000.

Most — 59 percent — plan to use their savings. Another 30 percent plan to charge the renovations, while 9 percent expect to use a home equity line of credit, 7 percent will seek loans, 4 percent will pay via investments and 21 percent are unsure or plan to pay using alternate means.

"Whether to improve indoor and outdoor space for a better family life or to perform routine maintenance, renovations provide a myriad of benefits," said Todd Nelson, business development officer at LightStream. "Consumers are increasingly putting money back into their homes. This is good for the economy and the home improvement industry overall."

Get more information about tips for home improvements in our section on Columbia SC Home Improvements to your right under Columbia SC Real Estate Categories.

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When thinking about Columbia SC home renovations to take on before listing your home for sale, you may think investing in a new kitchen or bath will help ramp up your sale price. But getting back a 100 percent of your investment in the first year after doing the renovations is not guaranteed. You must choose wisely when it comes to Columbia SC home renovations before putting your house on the market.

When it comes to buying a Columbia SC home, there are things buyers need to be aware of. But if you're on the selling end, there are some Columbia SC home improvements you need to think about as well.

A new Consumer Reports survey details many of the do's and don'ts for those buying a Columbia SC home, as well as those selling a Columbia SC home.

Columbia SC home improvements have seen record spending over the past three years due to the resurgence in home equity over that period of time, but spending is set to soften in coming months.

According to the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, the center's index, the Leading Indicator of Remodeling Activity (LIRA), projects that annual growth in home improvement spending will decelerate from 6.3 percent in the first quarter of 2015 to 1.6 percent by the third quarter.

Chris Herbert, Managing Director of the Joint Center says, "Homeownership rates continue to slide as lending remains tight and first-time homebuyers are not yet returning to the market." Growth in Columbia SC home improvements and remodeling spending is expected to drop somewhat in 2015 due partly to weakening home sales last year.

However, the Federal Housing Administration's (FHA's) recent announcement of a decrease in their mortgage insurance premiums could spur a new wave of first-time home buying since this is the category of borrowers most affected by mortgage premiums.

Other Factors Affecting Spending on Columbia SC Home Improvements

There are other factors, of course, that contribute to LIRA's outlook for Columbia SC home improvements. Home prices, for example, are still gaining, although not as fast as in previous months. If prices slow further, more buyers could enter the market, purchasing homes that need some remodeling.

House price gains are moderating but still strong and home sales appear to be turning a corner now, all of which bodes well for continued, if more moderate, gains in Columbia SC home improvements for 2015

We have more tips and articles on Columbia SC home improvements in our Columbia SC Home Improvements section to your right under Columbia SC Real Estate Categories. And don't forget, we post daily tips on Facebook and Twitter. Be sure to check us out there as well.