Remodel Your Home - Raise Your Home's Value

Home owners remodel their homes to increase the value, and more are showing a desire to stay and enjoy their remodels before they sell their home.

53% of U.S. home owners say they are remodeling to increase the resale value of their home, but they have no plans to move in the next five years, according to a new Houzz & Home survey of more than 135,000 respondents. 16% of re-modelers say they plan to sell their home in the next two years.

One in five — or 22 % — of the re-modelers surveyed say they feel home prices are rising too quickly to consider moving yet. 24% of respondents say they would prefer to move, but remodeling their home makes more economic sense.

The Millennial generation of home owners seem to be the most apt to move within the next five years, according to the survey. 36% say they are remodeling to increase their home’s value with the intent to move to their next home soon.

Overall, the most popular renovation projects are bathroom remodels or additions and kitchen remodels. Home owners continue to devote the highest share of dollars to kitchen remodels, spending an average of $26,172.

However, the average cost of a remodel can vary drastically by region. Home owners in the Northeast and West tend to spend the most on their renovation projects at an average of $32,155 and $29,411, respectively, on their kitchens (compared to $23,946 in the Midwest and $21,894 in the South), according to the survey.

The most popular replacement projects are flooring/paneling/ceiling, followed by windows/doors and roofing.

The top challenges that home owners say they face when renovating are finding the right products, defining their style, making decisions with spouse/partner, and educating themselves.

If you are interested in finding your dream home or are remodeling in hopes to sell your home for top dollar, call the Keller Williams Realty Cary office today at 919-882-3200. Keller Williams Realty Cary, opened in 2003 and has 170 real estate agents who specialize in residential, luxury and commercial real estate serving the Cary, Raleigh, Apex, Holly Springs area. 

If you are interested in a career in Real Estate, or are currently an agent who is looking to grow your business, visit our website today!