The ability to convert dreams into reality is the number one reason why homeowners undertake a renovation project. A result of a recent survey of more than 142,000 homeowners conducted by Houzz.com. Of those, nearly half decided to renovate in some capacity during 2018.
Reasons to Renovate
The reasons for all types of renovation projects parallel the reasons our clients in Orange County decide to renovate their homes. The other major reasons for renovating in 2018, 2019 and 2020 include…
- Desire to customize a recently purchased home
- Correcting damage due to home age, pests and lack of functionality
- Adapting to recent lifestyle changes / Universal Design
- Preparing home for sale to increase value
- Addressing damage from a natural disaster
The survey also reflects trends in Orange County. Nearly half of survey respondents opted to renovate their existing home as opposed to purchase new. The primary reasons included the ability to make a distinct and personal design statement by capitalizing on the opportunity to customize features and design and a desire to stay in their existing neighborhoods.
Goals of Renovation
The goals of renovation are not surprising. Almost all of our clients in Orange County renovate to improve the look, feel and functionality of their homes. Another major reason to renovate is to increase the value of the home, and the best return on investment in home renovations is a new kitchen. Kitchen renovations provide a 92.9% return on investment, according to Remodeler magazine. A bathroom remodel that includes replacing the toilet, tub and light fixtures, plus adding a double-sink, tiling the floor and hanging wallpaper can result in a $1.71 increase in home value for every dollar spent, according to Zillow.
Renovate Around Challenges
The top challenges renovating homeowners face are finding the right service providers, staying on budget and finding the right products. The reason why homeowners have a difficult time finding the right service providers and products is that the Internet is both our friend and foe. While the Internet provides access to every product and service that you could ever need for a renovation project, the amount of information available online can be overwhelming, is often incorrect, is likely to cause analysis paralysis, contributes to unrealistic expectations and elevates stress levels. That’s why a professional kitchen and bath showroom is your greatest asset. Showroom professionals specialize in making order out of chaos.
Staying Within Budget
The reason why staying on budget is so difficult, is due to not having a well-crafted and complete plan. Another reason why estimating and sticking to a budget is difficult for most homeowners in Orange County is that home improvement television is not a documentary but entertainment. Both budgets and timetables do not reflect reality and costs almost never include labor expenses. Click here for a guide to budget more effectively for a new kitchen.
If your kitchen, bath, laundry room, closets or other areas of your home no longer meet your desires, needs or preferences, give us a call at (949) 861-3400 or visit our showroom at 576 Wald, Irvine CA 92618. We will show you how you too can turn your dreams into realities.