In case you missed our recent article, a recession is actually a good time to take on a renovation project. There are a few basic reasons for this. But the reasons that float quickly to the surface are that cost of materials is down and contractors are more available. So if you choose to tackle a renovation project during the recession, which projects should you take on?

What renovations to make during a recession

At any time, really, not just a recession, it’s important to consider the renovation projects that will add the most value to your home. Another thing to consider is whether you’re planning to stay in your home for years to come or if you’re planning to sell soon.

The nature of the project you take on may change when you consider your long-term plans when it comes to your home. It’s always important to choose projects that suit your needs, but it never hurts to take on a project that will add value to your home, either.

Renovation projects to take on during a recession

Tackle smaller projects that add big value

If you’re interested in renovating your home, but your finances are a little strained due to the economic downturn, consider a smaller project. There are many small projects that can not only enhance how you enjoy your space, but will also add considerable value to your home. Those projects include things like replacing light fixtures, upgrading builder-grade bathroom mirrors and modernizing bathroom and kitchen fixtures.

Upgrade your flooring

One renovation project that always adds major value, whether we’re in a recession or not, is upgrading your flooring. Though this project can be labor intensive and possibly expensive, it can improve your resale value considerably. According to the 2022 Remodeling Impact Report from the National Association of Realtors, Homeowners may expect a 147% cost recovery from refinishing their floors and a 118% cost recovery from installing new wood flooring.


Another smaller, less expensive renovation project that tends to add value is painting. Whether you’re choosing to paint your dark wood cabinets a lighter color or adding a fresh, neutral coat to rooms with bolder paint, the project makes your home more appealing to potential buyers.

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