You might not have heard of the Residential Remodeling Index, but to put it simply the Index measures the amount of residential remodeling taking place in homes across the United States. The second quarter of 2017 set a new all-time high which means millions of Americans are remodeling their kitchens, bathrooms, or whole homes. The remodeling industry has been gaining steadily ever since 2011.
Experts pointed to economic growth in the United States as well as increased consumer spending. Other factors include low unemployment figures and new home shortages which are influencing homeowners to remodel their current homes rather than to buy a new one.
Remodeling is a great way to update your home to make it more enjoyable. One additional benefit to remodeling is that it can increase your home’s resale value when it comes time to move to a new home. While you may enjoy certain renovations to your home, there are certain remodeling projects that have a higher return on investment than others do.
- Remodeling your home’s kitchen can get you an ROI of 85%. Many homes for sale have their original cabinets, fixtures, and appliances which can turn off potential home buyers.
- A bathroom remodel can have an ROI of about 80%. One popular current bathroom remodeling trend includes going with a larger shower instead of a bathtub.
- Siding can impact the value of your home and has an ROI of approximately 80%. Updating your home’s façade can bring a certain freshness that can make a difference when it comes to curb appeal.
Home additions can also increase your home’s value on the market by expanding living space. Advantage Contracting proudly offers remodeling for many areas of your home including your kitchen, bathroom, basement, roofing and siding, and more. We also work with additions including bedrooms, bathrooms, kitchens, pantries, family rooms, walk-in closets, offices and dens, guest rooms, laundry rooms, game rooms, garages, patios, and more.
Give us a call today at (973) 696-0333 to get a quote on your custom remodeling project.