Before the COVID-19 pandemic, many homeowners viewed their home as their sanctuary—a place to retreat and relax after a long day. But as they spent more time in their homes during the pandemic and endured lockdowns, they may have started to view their homes with a little more critical eye.
Now that we’re on the other side of the epidemic, many homeowners are rethinking how they use their homes, and looking for ways to improve them. But when it comes to renovations, not all projects are created equal. Whether you’re planning to sell your home in the future or simply want to upgrade for your own enjoyment, it’s important to balance cost recovery and homeowner happiness when choosing which projects to tackle.
According to NerdWallet’s research, these are the top home improvement projects for both cost recovery and happiness:
1. Painting
Adding a fresh coat of paint is one of the most cost-effective ways to make your home look newer. Be sure to choose neutral, light colors that will appeal to most buyers and don’t forget to remove outdated wallpaper, which can detract from your home’s value.
2. Adding an extra bedroom or bathroom
Adding another living space is an easy way to increase your home’s value and add more privacy for you and your family. But make sure to keep the cost and size in line with the average home sales price in your area. If you’re considering this project, it may be best to consult with a real estate agent before starting to ensure you’re not overspending.