Most homeowners plan to renovate their home in some way or another in 2022 with a bathroom remodel at the top of the list, according to one. report by Zillow.
The real estate giant surveyed more than 2,000 homeowners nationwide in November and found that 72 percent of them would consider at least one home improvement project in the coming year, which the company noted “makes sense, given that most people have spent more time at home than ever before.” Last 22 months.
Zillow’s survey found that more than half of those surveyed would consider a bathroom remodel, the most popular project chosen. The company has found that buyers are also willing to pay extra for ‘spa-inspired’ features such as ‘borderless’ showers (3.6% premium), heated floors (3.2% ) and freestanding bathtubs (2.6%).
“Most homeowners say they plan to stay in their current home for at least the next three years,” Manny Garcia, population specialist at Zillow, said in a statement.
“And while uncertainty, pandemic precautions and affordability concerns keep many homeowners in place, most are willing to consider upgrading their current homes. From adding a cottage in the back to upgrading a bathroom or renovating the kitchen, most homeowners say they would at least consider an improvement in their home.
Almost half of those polled, 46 percent, said they would consider a kitchen remodel in 2022. Other projects that were in the top five for some cities were: landscaping (97.1 percent cities), the addition of the first floor (51.4 percent), the terrace (34.3 percent). percent), the garden house (17.1 percent), exterior and interior paint (both at 17.1 percent) and swimming pool (11.4 percent), according to Zillow.
The company advised owners to consider the long-term implications of their renovations, “such as prioritizing projects that will also generate a strong return on investment at the time of sale.”
Citing home improvement data company Realm, Zillow said projects with the highest ROI potential are inexpensive ways to add living space, such as conversions or additions in which the original structure is not affected.
“Building a cottage in the back, finishing a basement, fitting out a garage, finishing an attic, and renovating a kitchen are projects with the highest ROI potential,” the company said.
Many homeowners surveyed had such plans in mind for 2022, with 31% saying they would consider adding or improving an office space, 23% who would consider finishing a basement or attic, and 21% who would consider add accessory accommodation (ADU) or guest. to house.
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