It’s easy to see why many homeowners make significant investments in the quality of their homes.
Nearly two-thirds of homeowners enjoyed their homes more after completing remodeling projects, according to a 2017 Remodeling Impact Report by the National Association of Realtors. The report also found that some remodeling projects pay for themselves in resale values. New roofing, for example, had a 109 percent return on investment.
Kitchens and bathrooms have long been among the most popular remodel projects, and Hicks expects this to continue because of a strong return on investment. Complete kitchen renovations, kitchen upgrades, bathroom renovations and new wood flooring are interior projects that appeal most to potential buyers, according the impact report.
Ease-of-living renovations are on the rise as the baby boomer generation gets older, Hicks said. These projects include widening doorways and hallways to make room for wheelchairs and renovating spaces to accommodate multiple generations.
Basement remodels have been an increasing trend in the past decade. More people are staying put instead of moving, Hicks said, and these folks have turned to their basements for additional living space. The average basement remodel costs $28,000, according to Angie’s List.
Landscaping updates are more commonly including the addition of tranquil spaces. Homeowners are adding water features to their yards and gardens for the sound and reflective qualities. They’re being environmentally minded, too, by growing native plans and planting seed- and berry-producing flora.
LED lights are increasingly prevalent. Homeowners like them because they’re efficient, Hicks said, and manufacturers are starting to offer options that are warmer and softer.
Vinyl flooring is gaining popularity because it’s durable and easy to clean, said Hicks, though carpet will remain the market-share leader. Homeowners are also going green with flooring, using eco-friendly materials such as nontoxic cork and reclaimed-wood flooring made from white-oak wine barrels.
Gray remains a popular color for interior and exteriors walls. Gray and white are becoming more popular for flooring, too, Hicks said. Homeowners are balancing these neutral tones with accents, particularly water-inspired colors like blue, green and turquoise.
Do-it-yourself projects will still account for a portion of improvement work. About one-third of homeowners tackled remodel project themselves, according to the impact report. “But don’t get in over your head,” Hicks said. “Make sure you have the time, the talent and the tools needed to complete your project. Otherwise, it’s best to leave the big projects to the professionals.”
What home improvement projects are you tackling this year? Tell us in the comments.
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