5 tips to tackle a home remodel in an uncertain economy
Homeowners may be reconsidering their remodeling plans this year because of the economy’s recent turbulence, but planning and prioritizing can help you accomplish projects with confidence
By ANNIE MILLERBERND of NerdWallet
Published - May 17, 2023, 07:03 AM ET
Last Updated - Jun 21, 2023, 06:50 PM EDT
Spring is kickoff season for many kitchen remodels, bathroom updates and deck repairs, but recent economic turmoil may have homeowners questioning their home improvement plans.
Spending on home renovations is expected to slow this year because of factors such as declining home sales and values, rising interest rates , continuing inflation and rumblings of a coming recession, says Abbe Will, senior research associate with Harvard University’s Joint Center for Housing Studies.
As economic growth slows, planning and prioritizing will be key to remodeling confidently. Here are five tips to help you remodel in an uncertain economy.
1. START WITH AN EMERGENCY FUND
