Home remodeling projects have grown in popularity in the last few years as more people are finding it more cost-effective to upgrade their current homes rather than purchase a new house. A study published by Zippia has reported that this industry is projected to experience a 4.1% compound annual growth rate (CAGR) between 2021 and 2027, while Statista recently valued the home improvement market at $538 billion. Multiple benefits can be enjoyed with a residential renovation with the right approach, hence the need to hire experienced professionals to get the job done.
Some of the leading benefits you can enjoy with a Home Remodeling Newton MA project include:
A successful home remodeling project can greatly enhance the functionality of your residence, improving the quality of life enjoyed by the household. These ventures allow individuals to address sectors that might be suffering from poor performance levels, which can be especially important when dealing with essential sectors such as bathrooms and kitchens. Ensuring these areas are working properly not only improves the comfort levels of one’s home but can play a significant role in improving the safety available in such quarters. Nebraska TV reported that over 200,000 people are injured from bathroom accidents each year, while the Beaumont Emergency Hospital reported that two-thirds of residential fires began in the kitchen. By improving the functionality of these areas, an individual can effectively reduce the chances of accidents prone to take place in these sectors.
Great Return On Investment (ROI)
Remodeling one’s home can represent a reliable investment for individuals who may view their houses as a potential asset. These ventures offer a wide variety of options and almost all alternatives feature a potential ROI with the right approach. A 2023 cost vs. value report published by Zonda Media stated that homeowners generally enjoy a 60% ROI on average with their home remodeling projects. The same report found that projects related to curb appeal tend to hold higher ROIs compared to focusing on essential quarters such as the kitchen or bathroom. According to the Zonda cost vs. value report, electric HVAC systems, garage doors, and house siding replacement represent the ventures with the highest return on investment. It should be noted that the quality involved with the project will determine the kind of ROI enjoyed with the venture.
The most obvious benefit related to home remodels is the transformation of the space involved in terms of appearance. The integration of a personal style into the design of residential spaces can be a great way to transform that area into a personal oasis. Focusing on appearance shouldn’t be the sole aim of your project, as superficial upgrades don’t largely affect the functionality of the house. Your choices should also represent a practical solution in terms of upkeep and maintenance. An all-white lounge might seem like a good idea, for example, but it won’t be practical in a household filled with toddlers.
If you’re seeking quality home remodeling solutions at cost-effective rates, call us today! Exponential Construction, your preferred contractor!