Remodeling your home is a very personal endeavor.
Every family has a different motivation.
Discover how you stack up in comparison to the recent home survey.
In it’s annual Houzz and Home Survey home remodeling and decorating powerhouse Houzz.com discovered some very interesting facts about the intent of homeowners regarding their remodeling plans.
“According to the fourth annual Houzz & Home survey, more than half (58 percent) of the 170,000 U.S. respondents renovated their homes in 2014, and more than half (55 percent) have concrete plans to continue or start renovations in 2015.
That means there are countless people who have gone through what you have gone through — or are planning to go through this year. And we can learn a lot from one another.” Via Houzz.com
Their report includes some interesting facts about ‘why’ homeowners are remodeling.
According to the survey the top three reasons include:
1) Improving the Design/Look and Feel
2) Improving the Functionality
3) Increasing Resale Value
Interestingly enough these findings fall right in line with our Home Value Optimization strategy.
1) Improving the Design / Look and Feel of a home not only increases the livability but can also add value to any home. This is especially true if part of the remodel includes improving the curb appeal. The feeling you get when a friend, neighbor or passerby tells you how nice your home looks is very fulfilling. Pride of ownership is evident not only to the owner, but potential buyers as well.
Depending on the location of your home, countless people see your home every month. Given the fact that the overwhelming percentage of home buyers start their search at an on-line site like Zillo.com – – Trulia.com – Realtor.com the number of “home views” can be quite large.
The added value benefits you when it’s time to sell your home! The prospective buyers on these sites can help your home sell faster and help you get your asking price or more!
A truly great motivation to add landscaping and curb appeal to your remodeling plans.
This strategy is part of the “Always Be Selling” section of Home Value Optimization
2) Improving Functionality – granted I don’t know the exact question that lead to this finding in the survey, I’m going to assume it includes things like HVAC, Water Heaters, Appliances, Electrical and Plumbing.
There is no question that these systems are a major factor in the livability, safety, and value of a home.
Knowing you’re going to have hot water, heating or cooling, running water, lights and fresh food everyday is a critical part of the livability of your home.
There is no sense in having a new master bath, or chef kitchen if you’re going to be faced with a surprise one day when your furnace doesn’t work and it’s 28 degrees out side.
That’s why we cover this topic in “Know Your Home” section of our HVO model.
3) Increasing Resale Value. This is the reason we started Profitable Home Remodeling.
Every homeowner should capitalize on the fact that Uncle Sam is going to let them keep the increased value (equity) in their home TAX FREE. Any homeowner can take advantage of this tax incentive to upgrade their home every 2 years, and eventually own it mortgage free.
Living the “American Dream” of owning a home mortgage free, can absolutely be a reality for anyone willing to make smart choices.
Here is the entire results of the survey.
Where do you fit into the matrix?
