Homeowners across the country are taking their newfound free time to tackle some home improvements. With nowhere to go and nothing going on in much of the country, homeowners are finally tackling their long-put-off home improvements. People are realizing that without going out to dinner, the movies, and bars, they have more disposable income available. Instead of blowing the money on entertainment, they are choosing to invest in their homes. Homeowners are opting to go all-in on full-scale remodeling rather than one piece at a time. Instead of replacing the kitchen faucet, they are replacing the sink and countertops too.
Finishing a Basement
Finishing a basement is almost automatic these days. In the quest for more livable space in our homes, the basement is prime real estate. The problem is that basements are a blank canvas. Starting from nothing means a hefty price tag in materials, even if you don’t go for a multimedia home theater or something crazy. Lumber, wiring, outlets, lights, and doors are just parts of the puzzle, so expect to pay north of $10k to finish your basement.
Adding a Deck or Patio
Homeowners are adding luxurious outdoor living spaces. They prefer complex patios that incorporate barbecues, speakers, lighting, and pergolas to enhance the experience. The backyard is transformed from the dog’s playground to a delightful garden for relaxing with friends. A wide range of prices will suit every budget, and a wooden deck will cost less than a stone patio. The tab starts to rise when you factor in extras. Adding such luxuries might get the attention of the property tax assessor too, so be aware of that.
Installing a New Roof
Replacing a leaky roof isn’t a luxury—it’s a necessity. A leaky roof will damage everything in the house if left alone. The tiniest bit of water will make its way down the trusses supporting the roof, into the ceiling, and down the walls. It will rot the wood, compromise the integrity of the structure, and create a nice place for mold to grow. Replacing a roof is hard and dangerous work, and the price reflects that. Roofers carry a lot of expensive insurance in case of accidents, and they pass that cost along to you.
Kitchen Remodel
A full kitchen remodel is probably the most expensive renovation in your home. Going full teardown-and-rebuild could run you $30k–$50k, depending on the size of the kitchen and what design choices you make. The kitchen is the center of most homes and the first thing most people see when they enter. Kitchens need a ton of stuff: custom cabinets, appliances, tile, countertops, sinks, and faucets, just to name a few. Manufacturers recognize the importance of the kitchen and have thousands of products waiting for you.
