According to the survey, the kitchen was probably the most generally updated room of the home, with 27% of respondents completing a kitchen rework or addition in 2020. The median cost of these renovations was $12,000, however for kitchens larger than 200 square toes, the everyday spend on main remodels was a whopping $40,000. It also permits them to avoid the current challenges of the housing market the place home prices are still excessive and interest rates have gone up. It might have had to do with the COVID-19 pandemic, working from home extra, a scarcity of accessible housing, lower interest rates and adjustments to the tax code. Home values are at present up which suggests many householders might have seen their obtainable fairness increase as properly. Many householders faucet into their fairness to make improvements to their properties.
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