The primary goal of homeowners to remodel their houses is to make their homes more appealing when they are listed in the market, but a recent report from the National Association of Realtors has revealed that home remodeling can also benefit homeowners that don't have plans to sell their homes.
"Realtors® know that certain home upgrades and remodels can be beneficial to get more buyer eyes on a property, potentially bring in more offers or gain more equity from a home," said NAR President Tom Salomone, broker-owner of Real Estate II Inc. in Coral Springs, Florida. "But remodeling projects are just as valuable to homeowners who simply want to get more joy out of their dwellings. Regardless of the situation, Realtors® know what remodeling projects bring the biggest bang for the buck and what projects are most likely to improve a homeowner's impression of their current place."
The NAR's 2015 Remodeling Impact Survey revealed that 38 percent of homeowners remodel their homes to upgrade worn out surfaces, finishes, and materials, while 17 percent of them remodel their homes to add features and improve livability. 13 percent of them said that it was simply just time for a change.
"Remodeling projects can greatly improve both the value of and satisfaction with one's home, which are great things no matter the reason for a project," said Judy Mozen, president of the National Association of the Remodeling Industry. "This report highlights the best projects to consider in either situation and showcases just how much of a difference a good and professional remodel can make in real numbers."
According to their press release in PR Newswire, 75 percent of respondents said that they felt a major sense of accomplishment when thinking of their completed project. 54 percent of the respondents felt happy about the changes to their home, while 40 percent felt satisfied.
