The National Association of Home Builders recently released a survey focused on the Return on Investment (ROI) of remodeling projects. Here are a few tidbits your friends at Watermark & Company found particularly interesting:
Bathroom remodel: Payback on remodeling a bathroom can reach 65 percent with new fixtures, tile, toilet, vanity and lighting. Low-flow toilets consumer less water and can decrease the monthly water bill.
Kitchen remodel: A minor kitchen remodel can improve the look and utility of the space without costing a bundle, and yields a 75 percent return. Consider replacing backsplashes, cabinet fronts, countertops and flooring. Installing low-flow faucets and energy-efficient appliances can reduce water and energy expenses in a heavily trafficked room.
Whole-house remodel: Repairs and replacements of old components, and the desire for upgraded amenities were cited as the top reasons for customers to hire a remodeler. Evaluate the use of the entire home to see if it fits your needs. Homeowners are repurposing spaces to fit their households and making more efficient use of their home’s square footage and equity.
The Houston Chronicle has a more in-depth look at the report.