How to avoid common and costly home renovation mistakes

Many of us are spending more time at home in 2020, which could mean having more time to take on home improvement projects. But home renovations aren’t just a way to fill time; you want the results to be worth the hard work. The key to any successful project lies in careful planning — including financial strategizing — long before the power tools come out.

Roughly 3 in 5 American homeowners (61%) have taken on home improvement projects since March 1, 2020, spending $6,438, on average, according to an August 18-20 NerdWallet survey conducted online by The Harris Poll among 1,414 homeowners.

Whether you’re outfitting your home with a new office or classroom, or taking on long-intended improvements such as painting or installing new flooring, here are five tips to help you make sure you’re heading into the right project, the right way.

1. Consider return on investment

Any project

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Monmouth Real Estate: The Common Shares Are Attractive, The Preferreds A Safe Investment (NYSE:MNR)

Introduction

During the second quarter, when the share prices started to rebound after the initial COVID-19 pandemic and panic, I had to make choices. I was too frugal to pay $12 per share of Monmouth Real Estate (MNR) as the price had dipped below $9 during the initial panic, but I was wrong as my frugality caused me to miss an excellent entry point and the share price continued to trade above $14 all summer long. Around the same time, I initially didn’t want to pay $24.4 for the preferred share(MNR.PC) and I ended up buying the preferreds at par ($25). Monmouth’s share price has come off a bit and I wanted to figure out if I should just pay the $13.30/share it’s currently trading at. After all, quality has its price and given the 99%+ occupancy rate and 99%+ rent collection rate of this single tenant REIT focusing

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