Chances are your home is the most expensive thing you’ve ever bought. Yet if you’re like most of us, what you spent to acquire it is only the beginning.
As a group, we’re expected to spend $340 billion fixing up our homes this year, according to Harvard University’s Joint Center for Housing Studies. That’s about four times as much as we spend on summer vacations and nearly as much as we sock away annually in our 401(k)s.
It pays to plan carefully and make smart choices with return on investment in mind. While the average remodeling job recoups less than two-thirds of its cost at sale, according to trade publication RemodelingMagazine’s 2018 Cost Vs. Value report, some projects are more effective at saving money than others.
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