It has been six straight years of growth for the remodeling industry since its’ previous peak in 2007. Metrostudy, a subsidiary of Remodeling Magazine, estimates 12.6 million remodeling and home renovation projects of $1,000 or more in 2018.
Homeowners seek upgraded products to not only modernize their older homes, but to improve energy efficiency and to lower maintenance costs. But another aspect to consider when planning a remodeling project or home renovation, is the cost versus value ratio and the number of years a homeowner plans to stay in a home.
Below is a chart, from Hanley Wood Media, for the Mid-Atlantic region of the US, showing some popular remodeling projects, their average costs and value ratios, and how they affect home equity.
Remodeling and home renovation projects are a great way to breathe new life into an existing home. Here are a few ways to modernize your client's home while increase its potential value.
Tile is still one of the best products to use in a bathroom because of the high durability, low maintenance and variety of shapes, sizes and colors. The rustic farmhouse look is still popular and Emser Tile’s “Barn” Collection creates a distressed paint look on Porcelain Tile.
While wood is still the most popular material for exterior decks, composite decking is gaining in popularity every year. Trex has capped composites that are both beautiful and durable.
New cabinetry defines a kitchen, in terms of both form and function. Gone are the days of knotty pine or oak cabinets with a honey-colored stain. Today, a variety of wood species, stains, paint finishes and glazes, along with numerous door styles, offer hundreds of combinations to create a dream kitchen. Gallery Cabinetry by Elevations offers a custom look at a standard stock cabinet price point.
Garage Door Replacement
In the last ten years, garage door manufacturers have created many new styles, finishes and glass options to choose from. Haas Door’s American Tradition Series blends the traditional look of early American carriage house doors, with modern construction and low maintenance materials, creating a beautiful and durable garage door.
Vinyl Siding Replacement
Most of today’s homeowners are looking for low-maintenance alternatives when it comes to exterior building products. Certain-Teed has numerous collections, profiles and colors of vinyl siding that simulate the look of real wood without the maintenance issues.
Upscale Entry Door
A key focal point of any home is the front door. While wood doors are still frequently used, fiberglass has been steadily gaining popularity, due to the convincing wood graining that makes it difficult to differentiate between the two. Fiberglass also gives you a more durable and energy-efficient door, with its’ tough outer skin and foam-filled core.
Upscale Wood Window Replacement
Energy efficiency and low maintenance are two major reasons window replacement makes sense for home renovations. Marvin Windows can fit virtually any window opening because they are made to order. Thousands of options like oak, cherry or fir interior wood species; hardware finishes in oil-rubbed bronze, polished brass or satin chrome; fully integrated window shades and retractable screens are just a few examples of Marvin’s flexibility.
MYERS full-size kitchen and bath displays let you open the drawers and sit at the island making it easy to select products for any remodeling or home renovation project. Stop by a Myers location today or contact us to schedule an appointment.