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