Hamilton Herald Masthead Attorneys Insurance Mutual of the South

Editorial


Front Page - Friday, May 11, 2018

Time to explore all your home could be




May is National Home Remodeling Month, a time of year when many homeowners may daydream about sprucing up their homes to gain equity or resale value, or simply find more enjoyment from their property.

Many homeowners find the idea of a remodeling project too overwhelming to take on, according to the National Association of Realtors. In fact, 35 percent of homeowners in the U.S. said they would rather move than remodel their current home.

After completing a remodeling project, however, 75 percent of homeowners have a greater desire to be in their home, 65 percent have increased enjoyment in their home and 77 percent feel a major sense of accomplishment when thinking of their completed project, according to NAR’s “2017 Remodeling Impact Report.”

Realtors understand how remodeling a home can benefit the homeowner looking to sell, whether by impressing potential buyers, increasing the number of offers or growing equity in the home. Interior projects, such as kitchen renovations, hardwood floor refinishing and insulation upgrades often yield the largest financial returns for homeowners.

Realtors also understand that some homeowners undertake these projects to get more enjoyment from spending time at home. Here are four remodeling projects that scored a perfect Joy Score from consumers, indicating the greatest happiness from a completed project:

Added bathroom: The desire to improve livability, especially as a family grows, often leads to home renovation projects. Six out of 10 homeowners said they have a greater desire to be home since adding a new bathroom, the survey found, and nearly 80 percent of owners feel a major sense of accomplishment when they think of their project.

Complete kitchen renovation: One of the most used rooms in the home, consumers often draw up their plans for renovating their kitchen first. Ninety percent of consumers have a greater desire to be home since renovating their kitchen, and the top reason for the renovation was to upgrade worn-out surfaces, finishes and materials.

Closet renovation: A dream renovation for many consumers, renovating a closet to improve organization and storage was the top reason for 50 percent of homeowners who flipped their closet. Seventy-one percent of homeowners have a greater desire to be home since completing their closet project and 65 percent have an increased sense of enjoyment when they’re home.

New fiberglass front door: Consumers have energy efficiency in mind for many renovation projects, with over 40 percent choosing to install a new fiberglass front door in their home. Consumers find that the most important benefits of a new fiberglass door are better functionality and livability, as well as durable and long-lasting materials.

The “2017 Remodeling Impact Report” surveyed Realtors and consumers who have completed remodeling projects. The report explored homeowners’ reasons for remodeling, the success of certain remodeling projects and the increased happiness found in the home once a project is completed. Find the report at www.nar.realtor/research-and-statistics/research-reports/remodeling-impact.

Set yourself up for remodeling success by visiting www.gcar.net to connect with a Realtor who can help you make an informed decision on which remodeling option is best.

Greater Chattanooga Realtors is “The Voice for Real Estate in Greater Chattanooga.” A regional organization with more than 2,000 members, Greater Chattanooga Realtors is one of some 1,300 local boards and associations of Realtors nationwide that comprise the National Association of Realtors. Greater Chattanooga Realtors service Hamilton and Sequatchie counties in southeast Tennessee and Catoosa, Dade and Walker counties in northwest Georgia.

Information: www.gcar.net; 423 698-8001