There are many reasons homeowners decide to renovate their home. A recent survey of more than 142,000 homeowners conducted by Houzz.com found that the number one reason that homeowners chose to remodel was the ability to make dreams a reality.
The reasons for all types of renovation projects parallel the reasons our clients in Rhode Island, Massachusetts and Connecticut decide to renovate their homes. The other major reasons for renovating in 2018 (and likely in 2019) include:
- Desire to customize a recently purchased home
- Correcting damage due to home age, pests and lack of functionality
- Adapting to recent lifestyle changes
- Preparing home for sale to increase value
- Addressing damage from a natural disaster
The survey also reflects trends in RI, MA and CT. Nearly half of survey respondents opted to renovate their existing home as opposed to purchase new. The primary reasons included the ability to make a distinct and personal design statement by capitalizing on the opportunity to customize features and design and a desire to stay in their existing neighborhoods.
The goals of renovation are not surprising. Almost all of our clients in RI, MA and CT renovate to improve the look, feel and functionality of their homes. Another major reason to renovate is to increase the value of the home, and the best return on investment in home renovations is a new kitchen. Kitchen renovations provide a 92.9% return on investment, according to Remodeler magazine. A bathroom remodel that includes replacing the toilet, tub and light fixtures, plus adding a double-sink, tiling the floor and hanging wallpaper can result in a $1.71 increase in home value for every dollar spent, according to Zillow.
The top challenges renovating homeowners face are finding the right service providers, staying on budget and finding the right products. The reason why homeowners have a difficult time finding the right service providers and products is that the Internet is both our friend and foe. While the Internet provides access to every product and service that you could ever need for a renovation project, the amount of information available online can be overwhelming, is often incorrect, is likely to cause analysis paralysis, contributes to unrealistic expectations and elevates stress levels. That’s why a professional kitchen and bath showroom is your greatest asset. Showroom professionals specialize in making order out of chaos. Click here for a guide that outlines what you should expect from a professional showroom.
The reasons why staying on budget is so difficult is due to not having a well-crafted and complete plan. Another reason why estimating and sticking to a budget is difficult for most homeowners in RI, MA and CT is that home improvement television is not a documentary but entertainment. Both budgets and timetables do not reflect reality and costs almost never include labor expenses. Click here for a guide to budget more effectively for a new kitchen.
If your kitchen, bath, laundry room, closets or other areas of your home no longer meet your desires, needs or preferences, give us a call at (401)934-1074, visit our showroom at 2949 Hartford Avenue Johnston RI or contact us here. We will show you how you too can turn your dreams into realities.