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Home improvement plans for 2016 [Video]

Posted on Monday, January 4, 2016 at 12:46:32 PM

The new year has arrived, and with its arrival comes a new slate of ideas for home improvement projects. No matter whether they're big or small, home improvement is more popular than ever before. One clear indicator of that is the Home Depot's success in 2015. Improving in sync with the housing recovery, Home Depot's stock climbed 27 percent last year, according to the Motley Fool. 

As a haven for do-it-yourselfers and contractors alike, Home Depot has seen remarkable popularity in the last few years as homeowners embrace their creative side. While some have expressed concern over how the Fed rate hike will affect mortgages - and, by extension, future renovation projects - the home improvement store isn't worried. So far the Fed's decision hasn't had any measurable effect, and if the housing market continues to improve as it has done, then Home Depot's stock could hit an all-time high in 2016. 

When it comes to planning renovations this year, the Napa Valley Register cautioned that homeowners stick with smaller remodeling projects. Not only are they affordable through home improvement financing, they also offer better return on investment. Cosmetic improvements, like landscaping or a refurbished deck, can make a big difference in a home's value.