We typically talk about home improvement ideas on a budget, but what if you want to level up and splurge? If you’ve got the budget, you definitely deserve to flaunt it, especially if it will result in a happier home.
Home improvement projects boomed in 2020. As people spent most of their time at home, they realized how much their spaces have lacked. While most of them still stuck on a budget, some went all out and gave their home a shocking new look. If you’re looking for splurge ideas, you’ve come to the right place.
So without further ado, here are the priciest home improvement projects that hit it big last year:
1. Roofing Replacement
Expensive doesn’t always mean glamorous. Most of the time, it means improved function and longevity. Roof replacement is among the most expensive home improvement projects of all time. It costs an average of $7,674 and a collective average cost of nearly $26 billion. People often go for asphalt shingles because its affordable and long-lasting, but overall, roof replacement is costly, no matter the material.
2. Deck or Porch Construction
Building a deck or porch doesn’t have to be expensive, but if you’d choose luxurious materials and furniture, then it’d be quite the splurge. But it has great payback. Composite decking can offer a 63.2% return on investment for the average price of $22,426. If you want a cheaper material, wood is your best pick; for only $16,766 (on average), you can get a 65.8% ROI from it.
3. Bathroom Remodeling
Bathroom remodeling grew popular during the pandemic because of the rise of self-care rituals. Since we’ve missed the spa, the only thing we could do is to simulate its environment in our own homes. And adding a tub, a steam bath, and aromatherapy in our bathrooms made that possible for us. Those who had bigger budgets were able to renovate their bathrooms altogether. They changed most of the fixtures and added square footage if it was an option. The average cost of bathroom remodeling last year was $13,401. That’s money well spent, though, because fresh and updated bathrooms help add value to your home.
4. Kitchen Remodeling
A kitchen remodeling is almost always tied to a bathroom remodeling. And that makes sense because an updated kitchen design also boosts a home’s value. This home improvement project was commonly done last year because many people found new hobbies and business ventures in cooking or baking.
On average, a kitchen remodeling project costs over $35,000. If you have a big space, you may spend up to $50,000. Without a doubt, this project will be one of your heftiest investments ever.
5. Pool Installation
Reputable pool builders found their hands full during the pandemic, and the high demand may last until 2022. This can only be attributed to stay-at-home orders, which urged people to make an oasis out of their abodes. And now that it’s summer and resorts may still be a risky place, it’s definitely a great time to build a pool in your backyard, too.
The average cost of adding an in-ground pool to your backyard is around $35,000. But that doesn’t include maintenance costs yet. Once your pool is done building, you may spend $3,000 to $5,000 every year for upkeep. Custom-built pools may cost more to maintain, but for the people who have them, the extra expenses aren’t an issue. It’s worth it, especially if the pool can help you stay fit, cool, and feeling luxurious.
6. Home Automation
This upgrade doesn’t necessarily cost much, but the more sophisticated you go, the more money you pay. Home automation, or the integration of a Smart Home system, boomed during the pandemic because it increased convenience. From robot vacuums to smart garage openers, any home automation system helped people stay on top of their chores while working from home.
Costlier projects include installing a smart security system or a control unit that allows you to manage your whole house’s lighting, temperature, and security from a single point.
Landscaping was the most popular general maintenance project during the pandemic. Landscapers charge anywhere from $1,000 to $40,000, depending on the area’s square footage. These costs don’t include lawn care and maintenance yet.
If you’d add an outdoor kitchen in your backyard, that would cost you an additional $5,600 to $22,000. If you’d include a new deck or patio in the package, prepare to spend $1,900 to $11,500 more. For a total backyard renovation, your total spending may reach $50,000 on average.
These projects may look unnecessary or impractical, but if your lifestyle calls for these changes, the splurge will be worth it. Besides, who doesn’t want a home that has all these? If you can make all the luxuries you normally seek outside within your reach, nothing should stop you.