Across all demographic groups, bathroom renovations continue to be among the most popular projects, affording one of the highest returns on investment at the time of resale, Remodeling Magazine’s Cost vs. Value Report indicates. The value of a bathroom remodel increased 10 percent in 2014, and a mid-range project recoups nearly 73 percent of the investment; an upscale bathroom remodel returns nearly 64 percent of its cost.
But homeowners are not letting resale value alone drive their renovation choices. People are seeking renovations that are beautiful, luxurious, and eco-friendly, and that both enhance resale value and their ability to age in place should they choose not to sell down the road.
In a recent survey by real estate website Houzz, 41 percent of American homeowners said they were more likely to remodel than move over the next two years. The renovation motivators included the desire to improve the look and feel of their spaces (78 percent), improve functionality (54 percent), boost home value (52 percent), and improve overall energy efficiency.
Bathrooms have long been a focal point where function, luxury, and enjoyment converge in American houses. If you’re considering a bathroom renovation, following are some key points to keep in mind:
Conservation Meets Style
The green movement continues to gain momentum across virtually every aspect of American life, and home improvement is certainly no exception. Yet, environmentally aware homeowners are unwilling to sacrifice quality and beauty to go green — and they don’t have to, either. High-efficiency, eco-friendly, water-saving designs can be found in every key bathroom fixture from faucets and showers to commodes and bathtubs.
Forward-Looking Luxury
Fifty-four percent of homeowners say they will renovate to make their homes more functional, and 20 percent to accommodate changing lifestyle needs, according to the Houzz survey. Americans embrace the idea of remaining independent in their own homes for as long as they can; 90 percent of people 65 and older say they want to stay in their homes as long as possible, according to AARP. Additionally, many homeowners don’t wish to sacrifice beauty, efficiency, and luxury in order to accommodate the mobility and ability changes associated with growing older.
When renovating a bathroom with an eye toward luxury and aging in place, homeowners are incorporating features that can adapt to their changing needs. Lighting, flooring, and fixtures can all influence how welcoming a bathroom is now and how practical it will be as its users age. Bathroom renovations afford them the opportunity to create a space that is both appealing and secure.
While resale value will always be a consideration when renovating, greater availability of energy-efficient, beautiful products is making it easier for homeowners to also meet their other renovation goals — including creating a beautiful space that will age gracefully.
DJ’s Painting & Remodeling is a locally owned, full-service painting and remodeling company. For information on any painting or remodeling project, you may contact them at 309-452-9643, visit them online at www.djspaintinginc.com, or email sales@djspaintinginc.com.
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