The 11 Most Popular Home Renovation Projects In A Pandemic – And How Much They Cost
The more time you spend at home, the more time you can spend analyzing what could be best in your place of residence. That fact, combined with more free time as people spent less time traveling and entertaining outside of the home, has led many homeowners to tackle home improvement projects during the pandemic.
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A recent survey of homeowners conducted by Bid-on-Equipment found that 89% made some type of improvement to their home during the pandemic, and 1 in 10 made an improvement to their home for the very first time in the past. over the past year. The survey also found that the majority of homeowners (30%) were spending between $ 1,000 and $ 5,000 on their home improvement project, with an average spend of $ 3,797.
The survey also asked homeowners what renovation projects they were tackling. Here are the 11 most popular projects – plus how much they typically cost.
Last updated: May 24, 2021
The Bid-on-Equipment survey found that 86% of homeowners made improvements to the exterior of their home during the pandemic. This includes exterior painting, landscaping, and fencing. The costs for these projects vary – the average cost to paint the exterior of a house is $ 2,960, the average cost to install landscaping is $ 3,423, and the average cost to install a fence is $ 2,842. $, according to HomeAdvisor.
Although landscaping can be the most expensive project, homeowners can get a good return on their investment.
“Landscaping can add value to the home and it actually does,” said Jeff Johnson, owner and director of acquisitions at Simple Homebuyers. “Studies have shown that the added value of a house with landscaping can reach almost 13%. Gardens are an integral part of a complete home, which is why they have the potential to add value.
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The survey found that 65% of homeowners renovated one bathroom or multiple bathrooms during the pandemic. The average bathroom renovation costs $ 10,778, according to HomeAdvisor. This was probably a popular project, as it has both short and long term benefits for homeowners.
“Bathrooms transformed into hot tubs were extremely popular as we looked for new ways to get away from it all and relax,” said Ted Roberts, style and design expert for smart lock brand Schlage.
And the improvements made now will pay off when it’s time to resell. Bathroom renovations “add the most value to a property and are also the most difficult to renovate and upgrade, so future buyers will place a premium on the renovated space,” said Daren Herzberg, a licensed associate real estate broker from the Babst + Herzberg team in Boussole, New York.
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Kitchen renovations were the third most common pandemic project, with 43% of homeowners taking charge of this home improvement. The average cost of a kitchen remodel is $ 25,544 or $ 150 per square foot, according to HomeAdvisor.
“With limited dining options and more time spent at home, people decided it was time to renovate the kitchen,” said Andra DelMonico, renovation and interior design expert at Trendey. “For many homeowners, a kitchen update is on the to-do list, but they never quite get going. The pandemic has presented the perfect combination of time on hand and heightened frustration.”
While a kitchen remodel is an expensive understanding, it can increase a home’s value – in some cases.
“This home improvement project only increases the value of the home if it’s done right and has universal appeal,” DelMonico said. “Highly individualized updates can hurt a home’s value.”
Which one should you update first in your home: kitchen or bathroom?
The Bid-on-Equipment survey found that 38% of homeowners have made improvements to their living room. The cost of this project will depend on the scope, but even simple refurnishing can be expensive. The average retail price for furnishing a basic living room ranges from $ 2,050 to $ 3,150, according to interior design firm Funishr.
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Dining room upgrades
According to the survey, about a fifth of homeowners (21%) have completed a dining room improvement project. If you’re redecorating from scratch, it can cost around $ 12,000 to furnish a dining room, according to Kathy Kuo Home.
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Master bedroom upgrades
Twenty percent of homeowners have upgraded their home’s master bedroom amid the pandemic. The cost to furnish a basic bedroom ranges from $ 880 to $ 2,300, according to Funishr.
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According to the survey, 17% of owners have made improvements to their driveways. The cost of this project will vary depending on what was done, but if the upgrades involved adding wallpaper, it would cost an average of $ 509, according to HomeAdvisor. Christian Fuentes, broker / owner of RE / MAX Top Producers in Diamond Bar, Calif., Said adding wallpaper was one of the top decorating trends during a pandemic.
“Wallpaper design [can] bring some interest to the play, ”he said. “These are easy, inexpensive projects that homeowners can complete in a weekend, but they can add great value to a home. “
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Seventeen percent of homeowners have made improvements to their garage in the past year. The cost of a garage-related project can range from an average of $ 243 to repair a garage door to $ 14,304 to renovate or convert a garage into a home office, according to HomeAdvisor. Depending on where you live, this conversion can pay off in terms of added value for resale.
“For anyone considering making that same conversion, you must first find out how valuable parking space is in the area you live in,” said Andrew Wilson, home improvement contractor and associate at Contractor. Advisorly. “If living area is considered more valuable than garage space, this conversion can increase your home’s value by 10-20%. Otherwise, it can decrease it by 5-15% as well.”
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With more time spent at home, homeowners likely wanted to use every square foot available to them, so it’s no wonder that 13% used that time to renovate their basement. According to HomeAdvisor, basement renovations cost an average of $ 20,428.
“People with underground space in their homes have remained fairly active throughout the pandemic, designing basements and turning them into bars or haunts to hang out with friends and family,” said Matt Bigach , real estate expert and co-founder of Nexus HomeBuyers. “People have focused on using their energy for something that can provide them with comfort or entertainment.”
A finished basement can also add to the value of a home.
“It can definitely increase the resale value of your home, because you’ve designed a whole empty space into something that can be used for a long time,” Bigach said. “Basements were all the rage in the early 1990s and are making a comeback thanks to the creative spirit of people during the pandemic.”
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Renovations of secondary rooms
Eleven percent of owners have renovated one or more secondary bedrooms. Many owners converted a spare bedroom into a home office space during the pandemic, said Tomas Satas, founder and CEO of Windy City HomeBuyer. The cost for this project can range from $ 400 to $ 3,000, according to the Home and Garden Blog Home Stratosphere.
“This can be a valuable addition moving forward, as the work from home paradigm appears to continue long after the pandemic,” Satas said. “It is one of the driving forces of the current post-pandemic real estate boom.”
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Renovation of an entire house
A handful of ambitious homeowners – 4% – decided to renovate their entire home during the pandemic. A project of this size costs an average of $ 46,754, with most home renovations / renovations costing between $ 18,159 and $ 76,379, according to HomeAdvisor.
This article originally appeared on GOBankingRates.com: The 11 Most Popular Pandemic Home Improvement Projects – Plus, How Much They Cost