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Survey Says

The National Association of Realtors first of its kind NAR survey, sought input from Realtors®, consumers who have recently completed their own remodeling project, and members of NARI® (National Association of the Remodeling Industry).

The results might be useful. The responses below are based on a national population reply, and regional detail of the break down is not available.

The Remodeling Impact Survey supports that remodeling projects can improve both the value and personal satisfaction for the Owners when completed in a good and professional manner, and outlines those projects providing the best value recovery and the greatest positives to the Owners.

New Master Suite

  • Consumers #1 Reason to do- Add features/improve livability; 27%
  • Consumers #2 Reason-Time for a change; 2%
  • Consumers #1 Result-Better function/livability; 42%
    • 88% claim more desire to spend time in home after project completion
    • 87% report having more enjoyment in spending time in home
    • 87% state they have a major sense of accomplishment
  • Realtors® reported 4% recommended to Owners to complete this project and 1% reported they felt the project aided in closing a sale and 53% recovery of value cost

Kitchen Upgrade

  • Consumers #1 Reason to do- Worn out surfaces, finishes, materials; 36%
  • Consumers #2 Reason-Modernize; 19%
  • Consumers #1 Result-Better function/livability; 28%
    • 82% claim more desire to spend time in home after project completion
    • 75% report having more enjoyment in spending time in home
    • 79% state they have a major sense of accomplishment
  • Realtors® reported 57% recommended to Owners to complete this project and 25% reported they felt the project aided in closing a sale and 67% recovery of value cost

Complete Kitchen Remodel

  • Consumers #1 Reason to do- Worn out surfaces, finishes, materials; 35%
  • Consumers #2 Reason-Modernize; 19%
  • Consumers #1 Result-Better function/livability; 49%
    • 90% claim more desire to spend time in home after project completion
    • 86% report having more enjoyment in spending time in home
    • 93% state they have a major sense of accomplishment
  • Realtors® reported 17% recommended to Owners to complete this project and 12% reported they felt the project aided in closing a sale and 67% recovery of value cost

Bathroom Renovation

  • Consumers #1 Reason to do- Worn out surfaces, finishes, materials; 47%
  • Consumers #2 Reason-Modernize; 16%
  • Consumers #1 Result-Better function/livability; 39%
    • 62% claim more desire to spend time in home after project completion
    • 58% report having more enjoyment in spending time in home
    • 73% state they have a major sense of accomplishment
  • Realtors® reported 45% recommended to Owners to complete this project and 6% reported they felt the project aided in closing a sale and 58% recovery of value cost

Add a Bathroom

  • Consumers #1 Reason to do- Improve livability; 64%
  • Consumers #2 Reason-Recently moved into home and wanted to customize; 8%
  • Consumers #1 Result-Better function/livability; 53%
    • 78% claim more desire to spend time in home after project completion
    • 70% report having more enjoyment in spending time in home
    • 81% state they have a major sense of accomplishment
  • Realtors® reported 8% recommended to Owners to complete this project and 2% reported they felt the project aided in closing a sale and 52% recovery of value cost

Insulation Upgrade

  • Consumers #1 Reason to do- Improve energy efficiency; 71%
  • Consumers #1 Result-Improve energy efficiency; 30%
  • Realtors® reported 5% recommended to Owners to complete this project and 1% reported they felt the project aided in closing a sale and 95% recovery of value cost

To read the full report click here: https://www.nar.realtor/news-releases/2015/12/homeowners-reap-remodeling-benefits-whether-selling-or-staying-say-realtors

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