The Denver Post 2 Sundays ago had a great story titled, “Colorado homeowners can get the biggest bang for their home-improvement buck with these projects.”
According to HomeAdvisor the average homeowner spent $6,649 in home improvements from March 2017 to March 2018, an increase of nearly $1500 from the previous year. Second, Millennials completed more projects than any other age group, but they did spend 32% less. Third, Millennials plan to increase their home improvement spending this year. Why is home remodeling such a big growing business? Lack of existing and new homes for sale, not just in Denver but across the country.
So, what are the top 4 projects?
- Kitchen remodel with an average cost of $22k and this project should increase your home’s value by 5% roughly (about $18k increase on a median priced home)
- Bathroom remodel with an average cost of $9,724 and this project should increase your home’s value by 2-3% (about a $7k to $11k price increase on a median priced home.)
- Finishing a basement with an average cost of $7,500 and this project should add about 5% to the value of your home (about $18k increase on a median priced home)
- Interior painting costs just $1750, but can add 1-2% to the value of your home.
To read the story and to share it with your clients and SOI click this link below—