One of the biggest obsessions amongst homeowners concerns value. Watching your home value bounce around at the whims of a changing housing market can be a nerve-wracking experience and it’s not uncommon to want more control over that process.
The good news is, while you can’t control the housing market, you can at least increase the value of your home. A recent National Association of Realtors (NAR) survey found that improving your home can make it easier to move on the market and can also raise the price that you can confidently ask for it.
A document prepared by the NAR, the 2019 Remodeling Impact Report, reviewed 20 home improvements and collected information from homeowners that have attempted them. The survey, conducted in preparation of the report, found that 74% of homeowners were more inclined to keep their homes after the improvements.
Naturally, some improvements have a greater return on investment, with kitchen renovations receiving the highest score possible. Some 93% of homeowners expressed a greater desire to be home since completing the project and 95% said it added to the enjoyment of being at home. Another pair of projects that received top marks in the survey were closet upgrades. Whether it is adding more closets or expanding upon existing spaces, closet upgrades fix many of the minor frustrations homeowners experience on a regular basis and create more joyful spaces with more capacity.
As the results of this report show, improving your home can make a significant impact on both your home value and your own personal satisfaction. So whether its a kitchen or closet upgrade or even just a simple repaint of the interior, it’s worth considering a few renovations for your space.
JDP Designs is a fully licensed and family-owned construction company with over 35 years of experience working in construction. Specializing in large-scale residential construction and renovation, we have just the expertise you need to make your dreams a reality. If you have any questions about renovating your space, give us a call at (631) 256-6355. We look forward to helping you!