I just read today that home owners in certain parts of the U.S. spent an estimated $1,400 each on renovations and remodels in 2013. The report, issued by the National Association of Home Builders, went on to state that those homes, on average, were built in the late 1960’s and 1970’s. However, in Georgia, this average expenditure registered slightly higher at $1,648 per owner.
This information made me wonder how many of these home owners hired professional contractors to help versus undertaking the task themselves. Sometimes, I see innovative remodels that make me scratch my head. Take this remodel for example - new appliances and updated countertops with cabinetry. However, the lack of planning is evident as indicated in this photo.
Other times, I see well planned and executed improvements such as this bathroom renovation.
I guess what I want to say is that if you are going to spend $14oo- $1600 on average, and in some cases much more to renovate your home - you may as well maximize your spending in order to get the most out of the investment in the long run. Why install new appliances and cabinetry if you cannot access everything? Also, if and when the time comes to sell the property, you will want to ensure that the remodel makes sense. A bathroom with ample space and a combination of traditional as well as modern features will translate to more than one type of market segment.
This just goes to show that not all renovations are created equal. That just makes the home inspection process that much more interesting – and important!
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