Small renovations that make a big difference

Home-renovation projects were high on homeowners’ priority lists during the early days of the COVID-19 pandemic. Throughout much of 2020, people around the globe were forced to spend much of their time at home, as leaders and governments sought to prevent the spread of COVID-19. More time at home compelled millions of homeowners to invest more in their properties, thus sparking a renovation boom.

By early 2023, the renovation boom that marked the initial days of the pandemic appeared to have burst. In May 2023, the popular home-improvement retailer Home Depot reported its sales had fallen by 4.5 percent in the first quarter of the year and that its income had fallen by more than 6 percent from the same period a year earlier. That marked the end of what Home Depot CEO Ted Decker characterized as “a three-year period of unprecedented growth” in the homeimprovement sector.

Home Depot’s decline in sales was attributed to a number of factors, including a pivot among homeowners from large projects to smaller renovations. Inflation and the looming threat of a recession have led many homeowners to emphasize smaller projects. With that in mind, the following are some small renovations that can have a big impact.

• Storage addition: Regardless of where storage is added, whether in the kitchen or a home office or laundry room, extra space to keep items out of view can dramatically alter the look of a home. Unused kitchen walls can be transformed with some inexpensive, easily hung shelves, while some laundry pedestals with storage drawers can help keep washrooms clear of clutter.

• Polishing floors: Elbow grease might be the biggest expenditure when cleaning hardwood floors. The wood-flooring experts at Bona advise homeowners to polish their floors once every two to four months, depending on how much foot traffic the floors get. A fresh polishing can make floors look brand new and ensures that dirt and dust are not hanging around as uninvited house guests.

• Painting: Painting is another inexpensive option for budget-conscious homeowners who want to update their homes. There’s no shortage of places in a home, both inside and out, where a fresh coat of paint can make a statement without breaking the bank. Fading paint on bedroom walls and kitchen cabinets can be painted over with a fresh coat of the same color or even something more vibrant. Outside, apply a fresh coat to a wooden deck, or paint over brick siding to create a whole new look.

• Molding: Crown molding can add a touch of elegance to any room. Rooms can be transformed in a single weekend with the installation of new or replacement crown molding. A simple molding installation is a task many do-it-yourselfers can handle on their own, while homeowners with less DIY experience may benefit from hiring a contractor to create a layered molding look.