It looks like there is light at the end of the tunnel.
The home remodeling industry is bouncing back after a dip from the pandemic, according to an article from Kitchen and Bath Design News.
The article cites a study from the National Kitchen & Bath Association, which found that both activity and interest in residential remodeling is on the rise.
About 36% of homeowners were in the process of remodeling in the second quarter, up from about 13% in the first quarter, the study says.
Additionally, about one in five homeowners (22%) is looking to remodel soon, according to the study.
So, if quarantine has given you lots of ideas about improving your home, you are not alone!
Of course, the biggest consideration for any remodel is the budget. Those who have lived in their house for a while might be interested in a home equity loan, and this Oregonian article discusses some pros and cons.
If you are more into the Xs and Os of a project, an article from MSN Money breaks down the costs of various sizes of kitchen remodels.
The average kitchen remodel is just over $25,000, according to information from HomeAdvisor, with the lower end of the spectrum coming in at $4,000 and the higher end of the spectrum reaching $60,000, or more!
Broken down into percentages from national averages, you can expect to budget 29% for cabinets, 14% for appliances and ventilation, 10% for countertops, and the very important budget cushion of 15% to 20%.
Have a good week!
School is starting in most places, and many homeowners are trying to figure out how to handle more people working at home.
For us, the living room has turned into the working room, and the dining room has turned into the school room.
If you’ve caught yourself fantasizing about a dedicated workspace or more storage place for all the supplies you will be housing this semester, you aren’t alone!
Design trends are reflecting what more and more people need during this pandemic, as this article points out.
In addition to the dedicated office space, more homeowners are looking to add spaces to exercise, for their kids to play, or for a more luxurious feel in their bathrooms, the article says.
And with COVID-19 on the top of people’s minds, a revamp to the outdoor space for safely entertaining guests is on many shoppers’ lists, the article says.
In some respects, this is 2020’s version of aging in place. Take this article from the Washington Post, for example.
Homeowners are also factoring into account wheelchair accessibility and planning for space to accommodate aging parents or in-laws, according to the article.
Other changes include lowering kitchen counters, curbless showers, and even adding an elevator in extreme cases, the article says.
Well, if you’ve made it this far, you deserve a treat. And what could be better than seeing how the One Percent live?
Justin and Hailey Bieber just purchased a modest $25.8 million house in Beverly Park, which I’m told is not the same as Beverly Hills.
Anyways, TMZ has pictures (because of course they do), and you have to see the massive pool, huge range hood, movie theatre, and (presumably) master bedroom with a walkout balcony.
Have a great week!
Summer is here, and while you probably took care of most of your cleaning tasks in the Spring, it is now time for you to further enhance your property. Specifically, we are talking about remodeling. While these projects appear intimidating on the surface, when done correctly, they can significantly boost the value of your home.
Consider this: According to HomeLight’s report on the 2020 real estate landscape, upgrading to stainless-steel appliances can yield a 141% return on investment, adding a home office yields an 87% return, and privacy fencing often has an ROI of 78%. Considering those figures, you should not be afraid to take on remodeling projects.
Based on the HomeLight findings, kitchen remodels, painting, and landscaping and gardening are the three most popular home improvement projects that property owners are tackling this summer. Although these projects can seem overwhelming, you can use the information below to make them more manageable.
Choosing the right home renovation professionals
Home remodeling projects should not be attempted by one person. They require a team of experts such as a general contractor (the manger that oversees all the remodeling work), specialty tradesman (painters, plumbers, roofers, etc.), a handyman (generalists that can take on a variety of high-level tasks), and an interior designer (the professional who ensures that the remodel fits into your desired aesthetics).
In addition to those experts, if you have a large remodeling project (e.g. gutting sections of your home, making significant structural changes), you should consider speaking with a professional remodeler. They create an overarching vision for your remodel and ensure that all the moving parts piece together when complete.
Developing a home remodel strategy
Given the fact that every home is different, when you begin your remodeling projects, it is important to begin your remodeling projects with a plan and consider what buyers are looking for. For example, if you want to make your home feel more spacious and welcoming, an open floor plan is worth exploring.
Even just removing a non-load-bearing wall (i.e. a wall that does not support the weight of the floor or roof above) can modernize your space.
Homebuyers are also looking for neutral color palates in their home. Faux wood laminate flooring, matte black cabinet fixtures, and neutral linen curtains are all great décor options. If you have a larger budget, we suggest installing hardwood floors as 54% of homebuyers are willing to pay a premium when it is already installed.
In addition to your living room, you should explore upgrading your kitchen. Adding stone or quartz countertops, white subway tiles, stainless steel appliances, and brushed stainless steel or matte black hardware are a few of the most effective ways to improve your space.
You can also complement extensive upgrades by replacing cabinet knobs with handles, installing LED rope lights under your cabinets, and purchasing a sink made of stainless steel or enamel.
Finally, don’t forget to invest in landscaping as it can deliver up to a 10% boost to your home’s value. For example, adding shrubs, trees, and hedges to boost privacy are a worthwhile project if your home is near a busy street or in a planned community where you are not allowed to add a fence.
This post was provided by our friends at HomeLight.
