NAR’s 2017 Remodeling Impact Report | Thinking about renovating your house? This video highlights some projects that will give you a good return on your investment.
The National Association of Realtor’s 2017 Remodeling Impact Report is out and I wanted to highlight some of the interesting statistics in it.
- 35% of US homeowners would rather move than remodel
- 55% of suburban and 52% of urban homeowners would be willing to remodel their home (70% rural)
- After remodeling, 75% of homeowners have a greater desire to be in their home
- 36% said the single most important reason to remodel is better functionality and livability
Top Realtor Ranked Projects that Appeal to Buyers:
- Complete kitchen renovation
- Kitchen upgrade
- Bathroom renovation
- New wood flooring
- Add new bathroom
- Hardwood flooring refinish
Cost Recovered from Renovation Projects:
- New owner suite – 52%
- Kitchen upgrade – 57%
- Complete kitchen – 62%
- Bathroom renovation – 50%
- Add new bathroom – 50%
- Basement conversion – 63%
- Insulation upgrade – 76%
- New wood floors – 91%
- Hardwood refinish – 100%
- HVAC replacement – 67%
- New steel front door – 75%
- New garage door – 87%
- New roof – 109%
- New vinyl windows – 79%
