Are you planning to remodel one or more rooms in your home? Or perhaps you’re planning a long-awaited total renovation. Whichever situation applies to you, you’re probably aware that remodeling your home can bring a substantial return on your investment if and when you decide to sell.
In 2014 alone, over half of United States’ homeowners had their homes renovated, according to a Houzz survey. This included millennial homeowners as well as homeowners within other age groups. While some of these homeowners may have renovated for the purpose of selling, in general, they wanted to create a living space that reflected their personality, tastes, and lifestyle.
You may be curious about which rooms these homeowners chose to remodel or completely renovate. Bathrooms, especially the master bathroom, and kitchens were some of the most requested home improvements, according to the Houzz survey.
The Houzz survey indicated that 60% of homeowners were planning to remodel their master bathroom. Another survey from the National Association of Home Builders, showed that 78% of renovations conducted in the United States are bathroom remodeling jobs. One of the most popular features for 91% of the participants included having energy-efficient toilets installed.
Kitchen remodeling jobs were the second most popular request, according to the National Association of Home Builders’ survey. These types of jobs were requested by roughly 69% of homeowners choosing to remodel.
Some homeowners have asked to have their entire home renovated. This was true for 35% of homeowners.
Whether you recently renovated your entire home to reflect your lifestyle or because you’re planning to sell, you may be interested in some recent figures on investment returns.You’re probably aware that remodeling, especially when you have major renovations, can substantially raise the value of your home.
When you add in a master bathroom, you can expect an average of 86.4% return on your investment. If you have even minor remodels done in your kitchen, on average, you may receive an 82.7% return.
If you are planning to remodel your basement, you may be interested to know that you will likely receive a 69% return. Basement remodeling creates additional living space within an existing structure. In other words, you’re not increasing the footprint of your home when you have basement remodeling done. Just imagine all of the extra space you’ll have when you decide that basement remodeling is your first and best choice.
If you’re not quite sure which room to remodel first, a home improvement specialist can discuss this with you. Furthermore, you may decide to go with a total renovation and have a local contractor’s team design and build your dream home.