If you completed any home-improvement projects last year, you probably found that costs were higher than you expected. And as with many things, the pandemic was likely to blame.
HomeAdvisor (NASDAQ: ANGI) recently relaunched its annual True Cost Report, which examines common home-renovation projects and what impacts their costs for homeowners and investors. The report shed some light on why many of the most popular home-improvement projects saw price increases in 2020 -- and the reasons homeowners went ahead with completing them anyway.
Why did costs increase during the pandemic?
The most important factors homeowners and investors must consider when planning projects are the quantity and quality of both the materials and the labor that are available. According to the report, most projects went up in price because of any or all of these reasons.