Continuing with our subject on remodeling, we bring the second part of the survey conducted by Houzz & Home.
After all, how much does a renovation cost? The best answer is: DEPENDS! Obviously, it depends on the project, the materials that will be used in the house, the labor rate of the professionals that you will hire.
The average response of users who answered the survey was US $ 59,800 in their remodeling projects. This average includes renovations of kitchens and basements.
According to the survey, those who bought new homes spent twice as much as those who were preparing to sell their homes. Generally, those who buy tend to spend more to renew, since they will be living in their own residence, unlike those who want to sell.
Reform expenditures also relate to the client’s age. Older owners, 55+ spent an average 25% more (US $ 73,300) than owners in the 35-54 year age group (US $ 52,100). The average spend for younger owners, aged 25-34, was US $ 24,500.
Where does the money go?
According to the survey, homeowners spent an average 12% more on renovating their kitchens in 2015 compared to the same expenses in the year of 2014 – where their living rooms were the place chosen to received the most attention during the remodeling. Kitchen remodeling almost always includes swapping out at least all cabinets and appliances. Bathroom remodeling also increased 12% year on year. Replacement of furniture and sanitary ware.
In addition to the interiors, many buyers are also renovating plumbing and air conditioners.
Another factor that contributes to the amount spent on retirement is the size of the house. And the result shows that the owners of larger homes have spent more money on their property. Much of the remodeling costs depends on the owner’s savings and / or credit cards.
Soon the last part about Remodeling! Remember that we are at your disposal!!
