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The pandemic has led to a surge in home improvements, as homebound HGTV fans have been inspired to spruce up their surroundings. In 2020, homeowners spent $271 billion on home improvements, according to a recent study from the Joint Center for Housing Studies at Harvard University.
With stimulus checks and tax refunds landing in your bank account, this may be the ideal time to get some projects done. But before you head for Home Depot or Lowe’s or contact a contractor consider which projects will deliver the largest return on your investment.
A good place to start is
Remodeling magazine’s 2020 Cost vs. Value Report. The report details the average cost of about two dozen home remodeling projects and the estimated value each project retains if the property is sold. Some of the least expensive projects deliver the biggest payoffs.