Here in the United States, the process of home remodeling and home additions is not uncommon in the slightest. As a matter of fact, it has been found that more than half of all home owners (around two thirds of them, to be just a little bit more exact) are currently in the process of planning out their next home renovations or home additions project. So it is no shock then that the industry of home renovations is on the rise here in the United States, expected to grow by as much as 2% each and every year by the time that we reach the year of 2025, which is now just about five years ahead of us.
If you’re a home owner considering a home remodeling project, it is likely that you will look to remodel your kitchen or your bathroom. After all, these are the two most popular and sought out home remodeling projects, with more than ten million kitchens remodeled on an annual basis. And even more bathrooms are renovated – nearly 14.5 million of them over this same span of time. And some people will take it even further than that, with more than 30% (around 35%, to be just a little bit more precise) of all remodeling jobs involving an upheaval of the entire home – what’s known as a whole home remodeling project here in the United States.
Home additions are also quite popular throughout the country as a whole. Home additions can mean any number of things. For instance, home additions often include the addition of a garage. After all, more and more people now own two cars, and making home additions in the form of two car garages can be hugely beneficial for the people living in any given home. Home additions can also involve expanding the home, such as adding on a sunroom or even just another bedroom. No matter what, however, it is true that home additions can greatly increase the overall quality of the home when they are done well – even with ambitious home additions like second story additions and the like.
For many people, there are a number of benefits to renovating the home, from the minor kitchen remodeling project to much more extensive (and likely expensive) home additions. For one thing, a renovated space can give your life a better quality while you live in that home. This is backed up by data, which shows that up to one third of all home owners who choose to update their kitchen spaces will actually be inspired enough by their new space to take up a healthier lifestyle altogether. Making such a change can be hugely beneficial in the long run, meaning that the average kitchen renovation can pay off in way more ways than one.
Of course, home additions and home remodeling projects can be ideal for those who are looking to sell their homes as well. In many parts of the country, the homes that sell are the ones that have been updated and function like new. After all, up to 35% of all those who chose to buy brand new homes that had never been lived in said that they did so in order to avoid the problems or outdated features that are all too common in many of the outdated homes on the market today.
Simply taking the time to invest in the renovation of your home can pay off hugely when you’re looking to sell it in the near future. After all, even just the most minor of kitchen remodeling projects can have a return on investment that exceeds 82%. For bigger and more extensive projects, such as with most home additions, the return on investment can be even higher than that – especially when a high quality job has been done and the results are near perfect if not already so.
At the end of the day, there are certainly a great many reasons that people will choose to conduct various home renovations. And these home renovations themselves come in all shapes and sizes, from the very minor, such as painting a room, to the much more extensive, like adding a garage.