The past few years have changed the way Americans deal with their homes and real estate, in general. Shelter-in-place orders spiked a renewed interest in home renovations to accommodate a new family dynamic of remote work and homeschooling.
Then, a sudden spike in home prices and interest rates caused many would-be homebuyers to reexamine their plans to purchase a home. For many, the best option became home renovation instead.
As this trend continues, it’s very possible that you might be in the same boat—planning to renovate your home. This will naturally bring you to the next phase in your research, which is determining the cost to do so.
If you’d like to get a sense of what it costs to renovate a home in 2023, we’ll break down average costs for different projects and return on investment (ROI) to help you determine if a home improvement project makes sense for your financial goals.
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