BackHome Renovations Should Add Value01/15/24

House Logic, a free source of information from the National Association of Realtors, has published a “Home Improvement ROI: A Room-by-Room Tour” which outlines the return on investment for each room in your home. Not all home remodeling projects have the same immediate increase in resale value. Depending on many factors, this remodeling research report outlines some key statistics in the home remodeling industry.

https://www.nar.realtor/research-and-statistics/research-reports/remodeling-impact

Americans spent $420 billion in 2020 on remodeling their homes.¹ Among NARI members, 90% found a greater demand in contracting in remodeling work during the COVID-19 pandemic. Sixty percent of NARI members cited the scale of the projects increased either in a larger project or remodeling more than one room due to the pandemic.

The goal of any home remodel is to make the right choice for the long term, which is why many homeowners are searching for low maintenance options and energy-efficient upgrades. For the past few years, the ROI for remodeling a bedroom into a home office has plunged to 48.7 percent nationally. Mobile devices allow any room to temporarily shift to a workspace. Comparatively, the ROI for converting an attic space into a bedroom has skyrocketed to 77.2 percent nationally. The increased living space is ideal for either young children or for elderly family members who need at-home care.

Overall, exterior improvements consistently have the best ROI, most likely due to the curb appeal of these upgrades. Specifically, deck additions are making a comeback, with around 65 percent ROI in the Kansas City area. As the cost of building materials increases, it’s imperative to have the right deck remodeling contractor by your side. Contractors like Wineteer partner with families in Overland Park, Olathe, Lenexa, Leawood, and the entire Kansas City area to maximize their space, budget, and timeline. Wineteer takes the time to listen to the homeowners and determine the best solution to their design wants and needs.

Still, many homeowners are not focused on placing their house back on the market. Instead, they are crafting renovations to showcase some personality and improve quality of life in a home they love. A major kitchen remodel, which includes replacing fixtures, wall coverings, flooring, cabinets and countertops, has a 55.6 percent ROI in Kansas City. Still, these upscale renovations remain extremely popular. “Over the last 10 years, homeowners have spent more on kitchen remodeling than any other home improvement category,” according to House Logic.

Wineteer Construction has mastered designing creative, yet practical, specialty projects, like large decks, room additions and upscale kitchens. Contact Wineteer for a consultation on your unique renovation with customized special touches. https://wineteerconstruction.com/contact-us/ or give us a call at 913-717-6325