6 Hidden Costs of Home Remodeling
If you’re thinking about remodeling your home, you’re not alone. Annual homeowner spending on improvements and renovations has clocked double-digit growth since the pandemic, and could reach $430 billion by the second half of 2022, according to the Joint Center for Housing Studies of Harvard University. Even as the coronavirus crisis eases, part-time and hybrid work schedules are keeping many closer to home — making them decide to spruce up their residences.
Whatever project you have in mind, be advised: Its price tag isn’t limited to the materials you’ll need or the contractors you’ll hire. Home remodeling jobs tend to carry hidden costs. As you look ahead to cooking in that new state-of-the-art kitchen or turning that spare bedroom into an office, be sure to budget for these six often-overlooked expenses.