Renovation projects are growing in popularity throughout the United States. According to a recent survey, 84% of homeowners plan to redecorate, 40% plan to build or remodel, and 10% are scheduled to build a custom home. In general, 53% of homeowners believe that now is an opportune time for home renovation and designs. And why not? There are many benefits that come with home design and renovation work. Creating an elegant, beautiful, personalized living space is only one of them.

To give you a better idea of how beneficial it is to remodel your home, here are three facts about home renovations that are sure to pique your interest:

  1. High Return on Investment: Remodeling projects are well-known for their high return on investment (ROI). Bathroom remodeling, for example, has an average ROI of about 63%. Attic bedroom projects have an ROI of about 80%. Remodeling the kitchen, even for minor details, has a ROI of 73%.
  2. Maintains your investment: Your home is one of your single largest investments and you want to protect its valueWhile some remodeling projects can offer a healthy ROI, other projects can be a necessity for maintaining the current value of your home. Worn-out siding on a home, for example, can reduce the home’s value by as much as 10%.
  3. Forward thinking: As the baby boomer generation reaches retirement, home remodeling is expected to increase across the country. With rising health care costs, remodeling a home for accessibility will allow people to “age in place”. From open floor plans and wider doorways to floating sinks and wheelchair accessible bathrooms, remodeling projects like this will continue to grow in popularity as the aging populous seek out ways to live at home longer.

Let’s be honest, moving is a real pain. Even a lateral move in housing can cost you 10%, if not more of your home’s value once you factor in closing costs, realtor fees, and moving expenses. If you would rather remodel than move, please leave a comment or question below.

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