Top home remodels / renovations that increase project sales appeal vs renovations that will increase your project ROI
Of course when the topic of remodeling comes up, whether it be for personal enjoyment, quick home turnover, or return on investment (R.O.I), you immediately jump on the internet to find which projects rank the highest in ROI and buyer appeal while you look for your perfect project wherever it may be in that ranking. What you might of noticed is that the information tends to come from no source or a weak source at best. Today we went straight to the horses mouth and got our information from a callaboration by the "National Association of Realitors" (NAR) and the "National Association of the Remodel Industry" (NARI) which have put together a "2017 National Remodeling Impact Report" which has the most viable statistics available.
Today we have put together two ranking systems, which are based on a national score. The two ranking systems are the top twelve projects in each topic of 1: renovations that increase buyer appeal which decreases your homes time on the sales list, and 2. Renovations that give the most value for the investment during sales period aka-R.O.I. Hopefully these rankings, which weighs itself against the other for its ranking, can help you choose which project you should make the priority.
Below we have a table listing each individual factor and its value, on a national average, that every homeowner should consider during making decisions about the renovations. While these national averages give us a good idea of where each factor should be, when deciding on your renovation you should get local estimates as the figures will be different dependent on region.
Along with the figures above the report also noted that 37% of home those surveyed found the most important result in renovating to be livability and functionality, while 17% found that factor to be durability with long lasting materials and appliances, and another 17% found aesthetic and beauty as the more important factor.
The Report also showcased the fact that when it came to the work on the home being done, 32% did the project themselves, 32% hired a contractor, 21% bought all of the materials but hired the labor, and 14% contributed some DIY labor.
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