NAR’s 2015 Remodeling Impact Report shows both buyers and sellers benefit of a completed home improvement project. The report documents the reasons why a particular project is chosen and measures the happiness a project can bring the owner once the project is complete. Sixty-four percent of respondents experienced increased enjoyment in their home after completing a project, 75 percent of respondents said they felt a major sense of accomplishment. Although home improvements can be time consuming and sometimes costly, these positive responses seem to indicate that the end result is worth the investment.
When it comes to interior projects: kitchen upgrades, complete kitchen renovations, bathroom renovations and new wood flooring are among the best investments. These projects also appear to have the highest expected value at resale. Exterior projects that bring the best return on investment and attract potential buyers are: new roofing; new vinyl windows; new garage doors. The majority of these exterior projects are projected to nearly cover their cost at resale.
Remodeling projects can greatly improve both the value of and satisfaction with your home. This makes a remodel project worth your while, no matter the reason for a project,
This report highlights the best projects to consider in either situation and showcases just how much of a difference a good and professional remodel can make in real numbers.
Mirjam