Not only are homeowners beginning to spend more money on remodeling projects, but they’re also choosing to take on projects that are much larger than normal as well. For instance, rather than replacing a handle and faucet, they’re choosing to upgrade the entire sink itself.
Here are five of the most popular, and downright expensive, home improvement projects:
Building a Deck
Thanks to an increase in homeowner equity, more people are beginning to experience the luxury of outdoor living spaces, such as a deck, This is something that can add a great deal of value to your home, as well as increasing your overall living space without having to worry about adding a room. Close to $7,000 is typically spent for this kind of project, while smaller-sized decks can cost as low as $2,000.
Installing a New Roof
Previously, homeowners who had an issue with their roof would resort to performing a simple patch. Nowadays, however, they’re lucky to have obtained a few years of increasing equity and feel that they are able to redo the entire roof as a result. The average cost for this repairing a roof is $715, which is considered to be just a small fraction of the cost of replacement – $7,089.
Refacing Cabinets
This type of project is a great way to refresh the look of any space that has cabinets in them. It’s also a much more affordable alternative to remodeling an entire kitchen, and the process is eco-friendly as well. The average cost for this kind of project is $6,643
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