Flipping Or Not, Homeowners are Ready to Renovate
It’s getting close to prime time for home renovations. Each year in Spring, homeowners start making to-do lists for chores and repairs. According to a recent survey conducted by Angie’s List, a website with reviews of local home improvement companies, 72 percent of homeowners are planning to spend as much or more on renovations in 2017 as they did last year.
Based on the Angie’s List survey, most plans for reno projects include kitchen and bathroom updates, as well as outdoor landscape projects. Also topping the wish lists were transformation projects – changing existing rooms into specialized spaces such as home offices, rec rooms and man caves.
But according to the National Association of Realtors, none of these priority projects named by homeowners actually make the top 6 list of renovation projects with the biggest return on investment.
The results of what made the top 6 renovation returns on your money may surprise you.
5. Garage Doors
4. New Wood Flooring
3. Insulation Upgrades
2. Refinished Hardwood Floors
And the number one return on your renovation dollar…
So whether you’re looking to flip a new home or spruce up the one you’ve got, you might want to consider where to spend your money this renovation season.
Sources: Bank Rate and Real Simple